Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 23, 2020


VBCE Daily Foreign Exchange Update for Monday, Nov. 23, 2020

USDCAD spot rate: 1.3095 - 1.3100 (as at 8:05am PST)

Ranges:

Asia:

1.3050

to

1.3088

Europe:

1.3045

To

1.3068

North America:

1.3055

to

1.3109

Technical Support / Resistance:

S2

S1

R1

R2

1.3000

1.3032

1.3120

1.3170

Key Economic Data Releases:

- U.S. markit mfg PMI: 56.7 (exp 53 / prev 53.4)

Event Calendar:

Date

Canada

U.S.A.

Nov. 24

Nov. 25

Nov. 26

Nov. 27

Housing price index, consumer confidence

GDP Q3, durable goods orders, new homes sales, personal income, jobless claims, FOMC minutes

Thanksgiving Day

The USD/CAD pair is edging lower on Monday as the rising crude oil prices help the commodity-related CAD outperform its American counterpart, which finds it difficult to find demand as a safe-haven. Earlier on Monday, following Pfizer's and Moderna's inspiring results, Oxford/AstraZeneca announced that their coronavirus vaccine candidate was "up to 90%" effective in the latest trials. Risk flows started to dominate the financial markets at the start of the week and the S&P 500 Futures are up 0.6%, suggesting the upbeat market mood will remain intact during the American session. Currently, the TSX is up 0.21% and the DJIA is up 0.76%. EURCAD is down 0.31% trading between 1.5472 and 1.5547. GBPCAD is up 0.34% trading between 1.7370 and 1.7497. JPYCAD is down 0.55% trading between 0.01253 and 0.01260. Gold is down 1.91% trading between $1,833 - $1,876USD/oz. Silver is down 2.70% trading between $23.46 - $24.39. Oil (WTI crude) is up 1.23% trading between $42.32 - $43.36.

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.