Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 27, 2021
VBCE Daily Foreign Exchange Update for Wednesday, Jan. 27, 2021
USDCAD spot rate: 1.2775 - 1.2780 (as at 8:14am PST)
| Ranges: | Asia: | 1.2685 | to | 1.2727 |
| Europe: | 1.2713 | To | 1.2777 | |
| North America: | 1.2760 | to | 1.2822 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.2600 | 1.2644 | 1.2850 | 1.2900 |
Key Economic Data Releases:
- U.S. durable goods: 0.2% (exp 0.9% / prec 1.2%
- U.S. Fed interest rate decision: 11am
Event Calendar:
| Date | Canada | U.S.A. |
| Jan. 28 Jan. 29 | Building permits GDP (Nov) | GDP Q4, jobless claims Personal income/spending, Chicago PMI, consumer sentiment index |
After spending the Asian session in a very tight range below 1.2727, the USD/CAD pair gained traction during the European and North American trading hours and touched a fresh daily high of 1.2822. As of writing, the pair was up 0.65% on the day at 1.2775. The renewed USD strength seems to be fueling USD/CAD's climb on Wednesday. The risk-averse market environment, as reflected by sharp declines in major European equity indexes and the US stock futures, is providing a boost to the safe-haven greenback. In the meantime, with weakness in WTI it's making it difficult for the commodity-related loonie to stay resilient against the USD. The Fed is set to announce its interest rate decision today at 11am and are expected to leave its bond buying plan unchanged. Currently, the TSX is down 1.31% and the DJIA is down 1.05%. EURCAD is up 0.04%, trading between 1.5415 and 1.5473. GBPCAD is up 0.31% trading between 1.7435 and 1.7528. JPYCAD is up 0.12% trading between 0.01223 and 0.01230. Gold is down 0.12% trading between $1,831 - $1,853USD/oz. Silver is down 0.51% trading between $24.69 - $25.47USD/oz. Oil (WTI crude) is up 0.62% trading between $51.87 - $53.14.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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