Markets are quietly waiting for the US presidential election winner

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

US Dollar         1.3100-1.3200

Euro                 1.5500-1.5600

Sterling            1.7100-1.7200

The US Dollar index is for the most part unchanged in a quiet overnight session as the last debate is over and the prospects of a US stimulus package before the election grow slimmer. Markets rallied yesterday afternoon and appear to be opening stronger this morning as investors will now wait and see what the outcome will be in just over 10 days. The rapid growth of the virus and its effects on the economy will be front and center over the reminder of the time leading up to the election and stock markets could remain volatile.

The USD.CAD currency pair remains range bound and it is looking more and more like it will stay that way until the election, the Loonie opens the day at 1.3125 (0.7619) level after falling from a high if 1.3170 (0.7593) overnight. We do get the Bank of Canada interest rate announcement next week but I doubt they will change their stance and say anything different that will change the course of the Loonie so the Canadian Dollar trading should stay subdued.

Nothing of note on the calendar for today so look for a quiet day of back and forth trading in the currency markets. We should see some wild, desperate and outrages claims from Trump as the final days count down which hopefully won't rattle the markets.