Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 27, 2020
USDCAD spot rate: 1.2980 - 1.2985 (as at 7:45am PST)
| Ranges: | Asia: | 1.3010 | to | 1.3025 |
| Europe: | 1.2988 | To | 1.3015 | |
| North America: | 1.2976 | to | 1.3004 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.2930 | 1.2980 | 1.3030 | 1.3120 |
Key Economic Data Releases:
- no key data
Event Calendar:
| Date | Canada | U.S.A. |
| Nov. 30 Dec. 1 Dec. 2 Dec. 3 Dec. 4 | Building permits GDP (Sept)/Q3, Markit mfg. PMI Net employment change, unemployment rate, avg hourly wages, Int'l merchandise trade | Chicago PMI, pending home sales Markit / ISM mfg. PMI, Fed Powell speech ADP employment change Initial jobless claims, ISM services PMI Non-farm payrolls, unemployment rate, avg hourly earnings, trade balance |
Yesterday, USDCAD dropped from 1.3010 down to 1.2990 before climbing to 1.3023 in a quiet U.S. holiday session. The USD is again on the backfoot today with the USD index DXY near a 2.5 year low. Commodity currencies (CAD, AUD, NZD) are leading the way this morning in the absence of any key economic data. Although gold prices have fallen towards 5 month lows, oil prices are back up near 9 month highs. Equity markets are also back up near historical highs with the NASDAQ pushing to new highs above the 12,000 level with a 1.13% gain. After touching session highs at 1.3025 in Asia, USDCAD has moved lower this morning to 1.2976/1.2981 where it seems to have found some support ahead of the Nov. 9th low / 2 year low of 1.2930. The GBP is underperforming on the day with GBPCAD falling towards a 2 week low on Brexit headlines suggesting the stalemate continues ahead of this weekend's meeting in London. Currently, the TSX is flat while the DJIA is up just 0.15%. EURCAD is unchanged trading between 1.5481 and 1.5521 - near a 1 week high. GBPCAD is down 0.25% trading between 1.7294 and 1.7406 – near a 2 week low. JPYCAD is unchanged trading between 0.01245 and 0.01252 – near a 1 week low. Gold is down 1.40% trading between $1,774 - $1,814USD/oz, hitting fresh 5 month lows. Silver is down 2.60% trading between $22.33 - $23.33. Oil (WTI crude) is up 1% near pre-pandemic levels trading between $44.62 - $45.69.
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