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.
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3250-1.3350
Euro 1.4500-1.4600
Sterling 1.6950-1.7050
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3550-1.3650
Euro 1.4400-1.4500
Sterling 1.6250-1.6350
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2450-1.2550
Euro 1.4800-1.4900
Sterling 1.7400-1.7500
