Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 5, 2020

USDCAD spot rate: 1.3065 - 1.3070 (as at 6:00am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. Fed interest rate decision

- U.S. Initial jobless claims 751k (732k exp.) 758k previous

Event Calendar:

Stocks rallied globally as investors rushed back into technology and health-care firms on bets that the U.S. election results will trigger no major tax hikes or regulatory changes that would derail the sectors.

The tech-heavy Nasdaq 100 jumped another 2.6% after the underlying gauge surged on Wednesday, when the vote count failed to produce a clear Democratic sweep as some had expected. The reduced likelihood of a multi-trillion-dollar stimulus package in a divided Congress helped pushed the dollar down the most versus the euro since March. Treasuries held onto modest gains after U.S. jobless claims fell less than anticipated.

Currently, the TSX is up 0.31% and the DJIA is up 1.52%. EURCAD is down 0.20% trading between 1.5363 and 1.5488. GBPCAD is down 0.74% trading between 1.7054 and 1.7225. JPYCAD is up 0.25% trading between 0.01252 and 0.01266. Gold is down 0.68% trading between $1,877 - $1,916USD/oz while silver is down 1.59% trading between $23.21 - $24.49. Oil (WTI crude) is up 2.91% trading between $37.27- $38.85..