Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 27, 2020

USDCAD spot rate: 1.3115 - 1.3120 (as at 6:39am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. GDP (Q2) -2.3% (-2.0% exp.) -2.1% previous

- U.S. Initial jobless claims 1006k (1000k exp.) 1104k previous

Event Calendar:

Bonds and U.S. stocks rose after Jerome Powell reiterated that the Federal Reserve is in no rush to raise interest rates.

Treasury yields fell after Powell said the Fed will seek inflation that averages 2% over time, a step that implies allowing for periods of overshoots. Its shift on maximum employment will allow labor-market gains to run more broadly.

The S&P 500 Index and the Nasdaq 100 climbed, extending Wednesday's rally that pushed both indexes to another record close. Abbott Laboratories jumped after winning clearance for a 15-minute Covid test. The dollar weakened versus a basket of its biggest counterparts..

Currently, the TSX is up 1.04% while the DJIA is up 0.35%s. EURCAD is up 0.33% trading between 1.5516 and 1.5600. GBPCAD is up 0.21% trading between 1.7340 and 1.74121. JPYCAD is down 0.32% trading between 0.01238 and 0.01241. Gold is up 1.27% trading between $1,932 - $1,976USD/oz. Silver is up 1.30% trading between $26.91 - $27.92. Oil (WTI crude) is up 0.45% trading between $42.96 - $43.45.