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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 28, 2020


USDCAD spot rate: 1.3310 - 1.3315 (as at 8:30am PST)

Ranges:

Asia:

1.3183

to

1.3200

Europe:

1.3180

To

1.3260

North America:

1.3273

to

1.3334

Technical Support / Resistance:

S2

S1

R1

R2

1.3180

1.3260

1.3340

1.3420

Key Economic Data Releases:

- Bank of Canada interest rate: 0.25% exp 0.25% prev 0.25%

https://www.bankofcanada.ca/2020/10/fad-press-release-2020-10-28/\

Event Calendar:

Date

Canada

U.S.A.

Oct. 29

Oct. 30 Nov. 2

Nov. 3

Nov. 4

Nov. 5

Nov. 6

GDP (Aug)

Markit manufacturing PMI

Int'l merchandise trade

Net employment change

GDPQ3

Personal income/spending, Chicago PMI

Markit / ISM manufacturing PMI

Presidential Election

ADP employment, trade balance

Fed interest rate decision

Net employment change


Yesterday, USDCAD dipped from 1.3210 down to 1.3142 before climbing back to 1.3200. The risk mood was mostly lower on the day but risk aversion flows intensified after reports that both France and Germany were looking to lockdown their respective countries for 1 month to combat the pandemic as caseloads continue to soar. USDCAD climbed towards 1.3300 this morning before retreating to 1.3273. The Bank of Canada held rates at 0.25% as expected but maintained that stimulus would be needed into 2023 while warning that Q4 growth is expected to "slow markedly." They also noted that U.S. growth "appears to be slowing considerably." USDCAD climbed to 1.3334 – near a 1 month high before falling back to 1.3300. Currently, the TSX and the DJIA are down 2%+ near 3 month lows. EURCAD is up 0.50% trading between 1.5523 and 1.5637 - near a 1 month high. GBPCAD is up 0.60% trading between 1.7153 and 1.7324 – near a 2 month high. JPYCAD is up 1% trading between 0.01261 and 0.01278 – near a 3 month high. Gold is down 1.7% trading between $1,869 - $1,910USD/oz while silver is down 4% trading between $23.02 - $24.57 – both near 1 month lows. Oil (WTI crude) is down 4% trading between $37.06 - $39 – near a 1 month low.

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