Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 17, 2020

USDCAD spot rate: 1.2705 - 1.2710 (as at 5:50am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. Intial Jobless claims 885k (800k exp.) 862k previous

- U.S. Housing starts 1.547M (1.53M exp.) 1.528M previous

Event Calendar:

U.S. stocks rose rose amid hopes Congressional leaders are getting close to forging a stimulus package ahead of a crucial vote on government spending legislation due later this week.

With the final details of nearly $900 billion in coronavirus aid still under debate, the S&P 500 and tech-heavy Nasdaq 100 both added around 0.5%. The yield on 10-year Treasuries climbed above 0.9% and the dollar extended losses.

In Europe, cyclical shares such as miners and retailers rose on news that the rollout of a Covid vaccine would begin this month. The pound climbed and the euro rose to the highest since April 2018 as officials cautiously predicted a Brexit deal within days.

Currently, the TSX is up 0.22% and the DJIA is up 0.35%. EURCAD is up 0.12% trading between 1.5525 and 1.5565. GBPCAD is up 0.44% trading between 1.7196 and 1.7305. JPYCAD is up 0.28% trading between 0.01229 and 0.01233. Gold is up 0.26% trading between $1,861 - $1,884USD/oz. Silver is up 1.34% trading between $25.15 - $25.92. Oil (WTI crude) is up 0.83% trading between $47.87 - $48.59.