US Dollar index continues to fall

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

US Dollar         1.2975-1.3075

Euro                 1.5450-1.5550

Sterling            1.7325-1.7425

The US Dollar index is marginally weaker this morning as stock markets continue to march forward on the positive vaccine news and the news that former Federal Reserve Chair Janet Yellen will be announced as Biden's new Treasury Secretary. Markets would expect that for the first time in four years the Federal Reserve and the Treasury Department will be working together to bring relief and support to the US economy.

The Canadian Dollar continues to range trade against the US Dollar with USD.CAD opening the day at the 1.3015 (0.7683) level but that is a bit higher than the overnight low below1.3000 (0.7692). Once again, the Loonie will continue to trade in reaction to developments South of the border but if the US Dollar continues to weaken then we should see the Loonie benefit.

There is some secondary US data due out this morning but after than North American markets should come to a halt as the US moves into this year's Thanksgiving Holiday. Markets will be watching to see if this year's holiday turns into the massive super spreader event that some health officials are predicting, if it does then US Hospitals will be overwhelmed with patients and the US could be in serious trouble.