Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 26, 2020
VBCE Daily Foreign Exchange Update for Monday, Oct. 26, 2020
USDCAD spot rate: 1.3205 - 1.3210 (as at 8:14am PST)
| Ranges: | Asia: | 1.3139 | to | 1.3179 |
| Europe: | 1.3168 | To | 1.3198 | |
| North America: | 1.3178 | to | 1.3214 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.3080 | 1.3128 | 1.3206 | 1.3270 |
Key Economic Data Releases:
- U.S. new home sales: 0.959M (exp 1.025M / prev 0.994M)
Event Calendar:
| Date | Canada | U.S.A. |
| Oct 27 Oct 28 Oct 29 Oct 30 | BOC interest rate decision Building permits GDP (Aug) | Durable goods orders, housing price index GDPQ3, jobless claims, pending home sales Personal income / spending, Chicago PMI |
After closing the previous week modestly lower, the USD/CAD pair staged a rebound on Monday and touched its highest level in a week at 1.3213. As of writing, the pair was up 0.73% on the day. Falling crude oil prices makes it difficult for the commodity-related loonie to find demand. The surging number of coronavirus infections globally and recently imposed restriction measures in Europe seem to have revived concerns over an uneven recovery in energy demand. A barrel of West Texas Intermediate (WTI) is down 3.29% on a daily bas s at $38.58. On the other hand, the risk-averse market environment is helping the greenback gather strength against its peers as a safe-haven. At the moment, the US Dollar Index is gaining 0.3% on the day at 93.02. In the meantime, the S&P 500 futures are down more than 1% on the day, suggesting that the DXY could extend its daily upside if Wall Street suffers heavy losses after the opening bell. Currently, the TSX is down 0.94% and the DJIA is down 2.06%. EURCAD is up 0.23% trading between 1.5553 and 1.55600. GBPCAD is up 0.30% trading between 1.7105 and 1.7223. JPYCAD is up 0.35% trading between 0.01253 and 0.01257. Gold is down 0.03% trading between $1,891 - $1,908USD/oz while silver is down 0.96% trading between $24.08 - $24.64. Oil (WTI crude) is down 3.29% trading between $38.39 - $39.35.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.
