Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 14, 2020


VBCE Daily Foreign Exchange Update for Monday, Dec. 14, 2020

USDCAD spot rate: 1.2780 - 1.2785 (as at 8:23am PST)

Ranges:

Asia:

1.2743

to

1.2763

Europe:

1.2720

To

1.2757

North America:

1.2720

to

1.2787

Technical Support / Resistance:

S2

S1

R1

R2

1.2680

1.2716

1.2789

1.2830

Key Economic Data Releases:

- no major data releases

Event Calendar:

Date

Canada

U.S.A.

Dec. 15

Dec. 16

Dec. 17

Dec. 18

Housing starts, BOC Macklem speech

CPI

Retail sales

Industrial production

Retail sales, Fed interest rate

Housing starts, jobless claims

After spending the first half of the day moving sideways near 1.2770, the USD/CAD pair came under bearish pressure and touched a daily low of 1.2720, but has since then moved back up to a daily high of 1.2787. Rising crude oil prices help the commodity-related CAD gather strength against its major rivals at the start of the week. With coronavirus vaccines receiving approval for emergency use, investors continue to price a steady recovery in energy demand in 2021. On the other hand, the upbeat market mood, as reflected by sharp upsurges witnessed in major global equity indexes, is making it difficult for the greenback to find demand as a safe-haven. Currently, the TSX is down 0.05% and the DJIA is up 0.41%. EURCAD is up 0.25% trading between 1.5456 and 1.5510. GBPCAD is up 0.87% trading between 1.6958 and 1.7132. JPYCAD is up 0.08% trading between 0.01224 and 0.01229. Gold is down 0.52% trading between $1,818 - $1,841USD/oz. Silver is up 0.04% trading between $23.66 - $24.23. Oil (WTI crude) is down 1.54% trading between $45.70 - $47.43.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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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.