CAD Weakens as Rate Cut Speculation Grows Ahead of BoC Meeting

Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3530-1.3710
Euro 1.4870-1.5090
Sterling 1.7760-1.7960
WTI Oil (opening level) $75.67
The last 24 hours has seen a weakening of the CAD against all the major currencies. I read that there is a prediction that interest rates are going to come down even more at the next Bank of Canada announcement on October 23 meeting. This would definitely affect the tone of the marker and push the CAD into weaker territory. Of course this is all 'jaw boning' in advance of the actual release. It is done for a purpose- and is the only real tool in the central bank tool box- that gets the market to make subtle moves in anticipation of the actual fact. Probably done to reposition the market so the real announcement is not a shock to the market when it happens.
Meanwhile the USD index seems to have stalled after gaining approximately 2% in the last week. So don't look for any major moves to the upside in the market today.
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2500-1.2600
Euro 1.4950-1.5050
Sterling 1.7200-1.7300
As you may have heard on the news, as of Monday Nov 23rd both Peel Region and the City of Toronto have been placed under Lockdown.
All Kantor branches will remain open!
We are dedicated to the safe operation of all our locations for all our customers and staff. Thank you for your continued support! Stay safe!
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3550-1.3790
Euro 1.5590-1.5820
Sterling 1.8240-1.8490