Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 1, 2020

USDCAD spot rate: 1.2970 - 1.2975 (as at 5:55am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canadian GDP 0.8% (0.9% exp.) 0.9% previous

Event Calendar:

Stocks rose Tuesday morning as traders looked to extend November's sharp advance.

Equities are set to kick off the final month of 2020 with the momentum from a record month, during which each of the three major indices made fresh record highs, and the Dow posted its biggest monthly gain since January 1987 with an advance of nearly 11.9%. In the S&P 500, the energy, financials and industrials sectors led the index's 10.8% rise, as traders rotated back into many of the names that had been beaten down the hardest earlier on during the pandemic.

Many analysts believe equities will continue to ride the wave of vaccine-related optimism from November into December, after Pfizer (PFE), Moderna (MRNA) and AstraZeneca (AZN) each reported promising efficacy data for their respective COVID-19 vaccine candidates. Developments in the race to create an inoculation against the coronavirus helped stocks shake off volatility from earlier on in the month.

Currently, the TSX is up 0.26% while the DJIA is up 0.75%. EURCAD is up 0.14% trading between 1.5492 and 1.5546. GBPCAD is down 0.09% trading between 1.7270 and 1.7368. JPYCAD is down 0.32% trading between 0.01240 and 0.01244. Gold is up 1.51% trading between $1,776 - $1,811USD/oz. Silver is up 3.27% trading between $22.60 - $23.52. Oil (WTI crude) is down 0.44% trading between $44.83 - $45.69.