Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 2, 2020


USDCAD spot rate: 1.2937 - 1.2942 (as at 8:30am PST)

Ranges:

Asia:

1.2919

to

1.2949

Europe:

1.2916

To

1.2958

North America:

1.2923

to

1.2950

Technical Support / Resistance:

S2

S1

R1

R2

1.2850

1.2911

1.3004

1.3070

Key Economic Data Releases:

- U.S. ADP employment change: 307k (exp 410k / prev 404k)

Event Calendar:

Date

Canada

U.S.A.

Dec. 3

Dec. 4

Net employment change, unemployment rate, avg hourly wages, Int'l merchandise trade

Initial jobless claims, ISM services PMI

Non-farm payrolls, unemployment rate, avg hourly earnings, trade balance

The USD/CAD extended its slide during the Asian & European trading hours on Wednesday to touch its lowest level in two years at 1.2916. Ahead of the American session, the pair started to erase its losses and was last seen gaining 0.12% on the day at 1.2947. The heavy selling pressure surrounding the USD caused USD/CAD to remain bearish since the beginning of the week. The risk-positive market environment weighed on the US Dollar Index and dragged it to a fresh 31-month low. However, the poor performance of major European equity indexes and the 0.25% decline witnessed in the S&P 500 Futures seem to be helping the greenback stay resilient against its peers. Meanwhile, the commodity-sensitive loonie is struggling to find demand amid falling crude oil prices as investors await clarity on the output strategy of OPEC+ in 2021. Currently, the TSX is up 0.08% while the DJIA is down 0.03%. EURCAD is up 0.19% trading between 1.5571 and 1.5661. GBPCAD is down 0.57% trading between 1.7197 and 1.7374. JPYCAD is down 0.17% trading between 0.01233 and 0.01240. Gold is up 0.88% trading between $1,807 - $1,832USD/oz. Silver is up 0.44% trading between $23.54 - $24.32. Oil (WTI crude) is up 1.43% trading between $43.93 - $45.33.

B90fe1ad36

Follow us




Follow us on Twitter @vbcefx


Disclaimer


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.