Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 10,2020

VBCE Daily Foreign Exchange Update for Monday, August 10, 2020

USDCAD spot rate: 1.3353 - 1.3358 (as at 8:25am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- No major data releases

Event Calendar:

Technology shares led U.S. stocks lower after the benchmark S&P 500 approached an all-time high reached before the coronavirus pandemic. Crude oil gained and the dollar strengthened. The tech heavy Nasdaq Composite Index slumped for a second day. The S&P 500 Total Return Index, which includes reinvested dividends, rose earlier to an all-time high, exceeding its February peak. The price-only version rose to less than 1% away from breaking out before turning red. In Europe, stocks advanced led by financial companies. Chinese equities climbed on the back of data showing the economy continuing to recover from the pandemic, with consumer inflation accelerating. On Saturday, President Donald Trump signed four executive orders to maintain some assistance, including for unemployment benefits, a temporary payroll tax deferral, eviction protection and student-loan relief. Trump's policy announcements come as Democrats and Republicans are still negotiating a broader additional virus relief package. The two sides are still trillions of dollars apart on overall spending and on key issues, including aid to state and local governments and the amount of supplementary unemployment benefits. European stocks briefly dipped on Monday after China retaliated against the U.S. by sanctioning 11 Americans. The list includes Senators Marco Rubio and Ted Cruz, but no members of the Trump administration. Still, it's another sign of discord between the two nations as the Trump administration takes a harder line against China in the run-up to the November election. Currently, the TSX is up 0.30% and the DJIA is up 0.61%. EURCAD is down 0.40% trading between 1.5698 and 1.5788. GBPCAD is up 0.02% trading between 1.7428 and 1.7505. JPYCAD is down 0.07% trading between 0.01259 and 0.01265. Gold is up 0.07% trading between $2,019 - $2,049USD/oz. Silver is up 2.5% trading between $27.79 - $29.40. Oil (WTI crude) is up 1.83% trading between $41.55 - $42.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group