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

USDCAD spot rate: 1.2760 - 1.2765 (as at 5:58am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. Initial Jobless claims 853k (725k exp.) 716k previous

- U.S. CPI 1.2% (1.1% exp.) 1.2% previous

Event Calendar:

Stock dipped Thursday morning after a new report showed new jobless claims resurged to more than 850,000 last week, as a wave of coronavirus cases and more virus-related restrictions unwound some of the progress in the labor market's recovery. The S&P 500 and Dow each turned negative after holding flat to slightly positive earlier in the morning. The Nasdaq underperformed for another session, as tech stocks came under renewed pressure. Shares of Facebook (FB) added to losses in early trading after the U.S. Federal Trade Commission and 48 attorneys general filed an antitrust lawsuit against the social media giant on Wednesday.

Concerning new economic data added to traders' jitters. New jobless claims came in at 853,000 last week, for a print well above the 725,000 expected. Continuing claims also unexpectedly rose, underscoring the increasing economic toll from the latest surge in coronavirus cases as lawmakers stall in passing a new round of relief measures.

Currently, the TSX is down 0.26% and the DJIA is down 0.13%. EURCAD is down 0.31% trading between 1.5433 and 1.5498. GBPCAD is down 0.12% trading between 1.6932 and 1.7162. JPYCAD is down 0.15% trading between 0.01220 and 0.01229. Gold is up 0.25% trading between $1,828 - $1,842USD/oz. Silver is up 0.93% trading between $23.71 - $24.09. Oil (WTI crude) is up 1.30% trading between $45.09 - $46.25.