US Dollar index remains weak as stock markets show no incentive to fall in the near future

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

US Dollar         1.3050-1.3150

Euro                 1.5450-1.5550

Sterling            1.7050-1.7150

The US Dollar index is stronger this morning after trading weaker last night on the prospects of another "Tech" rally in stocks that is starting to unfold. Overnight drug maker Johnson & Johnson suspended a vaccine trial as a patient came down with an unexplained illness. Stocks gave back some small gains on the news and the Dollar recovered some earlier losses but overall Stocks should have a strong day and the US Dollar will trade a little weaker.

I think markets are now pricing in a Biden win which stock markets will like as there will be a quick stimulus package for the economy should that happen. But we must remember that Clinton had a lead in the polls just weeks before the last election and she lost so don't count out the "Donald" just yet.

The Canadian Dollar has rallied over the Thanksgiving weekend and USD.CAD opens the day near the 1.3100 (0.7633) level. It was helped along by the stronger than expected September jobs report and the weaker US Dollar over the holiday yesterday. If the US Dollar remains weak and the Stock Markets remains strong then you should see the Canadian Dollar make further gains against the Greenback this week.