CAD Holds Near 1.39, Oil Supported by Strategic Petroleum Reserve at $68

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.3780-1.3970

Euro                 1.4920-1.5110

Sterling            1.7900-1.8130

WTI Oil (opening level) $68.37

The CAD is opening at 1.3880( 0.7205)

in the last couple of days the 1.39 level has been tested but not smashing through it. The highest I saw the market was 1.3908 yesterday, and we open below that today.

Oil is still around $68 a barrel - do remember that the Strategic Petroleum Reserve was supposed to be buying to replenish inventories when the price came down to $67 - so there is support at this level.

The USA election is going to limit wild swings in the equities and commodity markets. So look for limited movement in the currency markets until after the election.