US Dollar Steady as Markets Watch VP Harris; Canadian Dollar Strengthens Ahead of BoC Announcement

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

US Dollar        1.3725-1.3825

Euro                 1.4925-1.5025

Sterling            1.7700-1.7800

WTI Oil (opening level) $77.82

The US Dollar index is steady in a quiet overnight session. Markets continue to watch from the sidelines as it appears now that VP Harris has enough support to secure the nomination to run against Trump. The Dollar had picked up some strength over the last couple of weeks on the expectation of a Trump victory as he would enact protectionist trade policies which are seen as dollar positive so markets want to see how Harris does during the next few months to see if they start to unwind those trades. 

The Canadian Dollar also had a quiet night as it picked up some strength across the board ahead of the Bank of Canada announcement tomorrow. I don't expect much movement ahead of the announcement so US Dollar buyers have today to consider some purchases ahead of that event.

Nothing of note on the calendar, Stocks markets continue to undergo a shift away from Tech stocks and back into more traditional Large Cap so the should remain supported throughout the day.