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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