CAD starts the week with some gains against Euro and GBP

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

US Dollar             1.2500-1.2600

Euro                     1.4300-1.4400

Sterling                1.6800-1.6900

The US Dollar index is marginally weaker this morning in a quiet start to the week but the index remains near a 16-month high underlining the continued strength of the Greenback. Rising US inflation and supply chain issues continue to dominate the financial headlines and the question of when the US Federal reserve will increase interest rates continue to weigh on the financial markets.

The Canadian Dollar opens the week a little stronger in a narrow trading range as USD.CAD fell back from the 1.2600 (0.7937) level, the Loonie was also able to pick up some small gains against the Euro and Pound so overall a good start to the week for our Dollar.

Of interest this week will be the Canadian inflation numbers for Oct to be released on Wednesday, inflation is also running hot in our country and at some point the Bank of Canada is going to have to look at increasing interest rates as well. With nothing of note on the calendar today USD.CAD should remain range bound barring any surprises from the China/US virtual summit this evening.