Investors' optimism about the US economy rebound in 2021 continues to push the USD index down

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

US Dollar         1.2750-1.2850

Euro                 1.5650-1.5750

Sterling            1.7350-1.7450

The US Dollar index is again weaker this morning and has not been this low since 2018 as investors continue to push money into stock markets on the expectation that 2021 will see a robust recovery throughout the United States. I would expect that this trend will continue when the new administration takes office and pushes for more stimulus to help the American people.

The Canadian Dollar continues its slow march as USD.CAD opens the day below the 1.2800 (0.7813) level, it will be interesting to see if the Loonie can continue to strengthen or will we see yet again the currency pair move back above 1.2800. There is no news coming out of Canada before January that will move the needle so all movement before the New Year's holiday should remain subdued.