Daily Financial Recap: Tech, Gold, and Bonds in Focus
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3940 - 1.4140
Euro 1.4660 - 1.4880
Sterling 1.7660 - 1.7870
WTI Oil (opening level) $69.22
The Canadian dollar (CAD) opens at 1.4033 (0.7126 USD).
Global equities are rising, led by strong tech gains in the US and Asia. Volatility remains low, with focus on upcoming US jobs data. The euro stays weak due to French political unrest, while gold rebounds despite a strong dollar. Coffee futures slump on margin calls.
In bonds, the OAT-Bund spread widens amid European instability, and US Treasury yields flatten on potential rate cut signals.
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3650-1.3750
Euro 1.5050-1.5150
Sterling 1.7700-1.7800
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2650-1.2750
Euro 1.4100-1.4250
Sterling 1.6950-1.7100
Bitcoin has jumped above US$17,000 and reached its highest level since December 2017.
Most analysts claim that such a big spike is related to the pandemic and its impact on the global economy. Investors started to move their funds out of stock markets and purchase cryptocurrency as they believe it can become a new shelter from shares volatility.
So, check your crypto wallets, maybe it’s time to reconsider your investment portfolio.
