CAD Gains Amid USD Pause: Is the Peak Behind Us?

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

US Dollar        1.3850-1.4060

Euro                 1.4540-1.4750

Sterling            1.7420-1.7630

WTI Oil (opening level) $72.15

The CAD is opening at 1.3964 ( 0.7161)

Could the USD strength have peaked for now?

US 10-year yields are at an almost 2-week low, and are a solid coincident indicator for some US dollar consolidation, if not for how deep it could prove.

We have a holiday week ahead and end-of-the-month before a long wait for the arrival of the Trump administration on January 20. So the Trump bump maybe taking a pause.

It is odd to see CAD as strong when you look at a USDCAD chart, but take a look at GBPCAD and you get the idea. Euro weakness is still pronounced, but a huge bounce from Friday lows.