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USD Supported Amid Stock Gains; CAD Steady as Rate Cut Anticipation Grows


28.05.2024
USD Supported Amid Stock Gains; CAD Steady as Rate Cut Anticipation Grows

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

US Dollar        1.3600-1.3700

Euro                 1.4750-1.4850

Sterling            1.7350-1.7450

 

WTI Oil (opening level) $78.67

 

The US Dollar remains supported even as stocks continue to perform well. Nothing has changed as markets still await definite direction on when the Fed will cut interest rates.

 

In Canada, the Loonie is hanging in as the market awaits word from the Bank of Canada next month. I would be surprised if they do not cut interest rates so USD Dollar buyers should be wary of a big drop in our Dollar next week.

 

I did not have to change the expected ranges so it looks like the Loonie has remained stable for the moment.



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

US Dollar             1.2800-1.2900

Euro                     1.4475-1.4575

Sterling                1.7150-1.7250

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

US Dollar        1.3500-1.3600

Euro                1.4250-1.4350

Sterling           1.6400-1.6500

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

US Dollar         1.2650-1.2750

Euro                 1.5300-1.5400

Sterling            1.7550-1.7650