Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 9, 2020

VBCE Daily Foreign Exchange Update for Monday, Nov. 9, 2020

USDCAD spot rate: 1.2975 - 1.2980 (as at 8:18am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- No major data releases

Event Calendar:

Stocks surged around the world and bonds tumbled after a large-scale coronavirus vaccine study delivered the most-promising results in the battle against the worst pandemic in a century. Equities came off session highs after Mayor Bill de Blasio said New York City is coming dangerously close to a second wave of the coronavirus. Still, more than 85% of S&P 500 companies climbed on Monday as the gauge jumped to a record on news that the Covid-19 shot being developed by Pfizer Inc and BioNTech SE prevented more than 90% of infections. The Dow Jones Industrial Average also rose to an all-time high. Oil soared, while gold, the JPY and the CHF slumped. Investors pulled out of haven assets and poured cash into markets that are closely tied to economic growth, with a gauge of global stocks also hitting a record high. President-elect Joe Biden on Monday announced a new coronavirus task force as his transition team seeks to fulfill a campaign promise to develop a dramatically different approach than President Donald Trump's to contain the pandemic. The top infectious disease expert in the U.S. Anthony Fauci said the vaccine being developed by Pfizer will have a major impact on everything we do with regards to the coronavirus going forward. Elsewhere, the AUD-JPY cross, a commonly watched risk barometer, surged by most since June. The Turkish lira soared after the weekend resignation of the country's economy czar and the dismissal of the central bank chief. Currently, the TSX is up 1.63% and the DJIA is up 3.86%. EURCAD is down 1.03% trading between 1.5325 and 1.5516. GBPCAD is down 0.70% trading between 1.7023 and 1.7178. JPYCAD is down 0.24% trading between 0.01229 and 0.01263. Gold is down 4.86% trading between $1,853 - $1,965 USD/oz while silver is down 6.72% trading between $23.86 - $26.00. Oil (WTI crude) is up 9.14% trading between $37.23 - $41.33.

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