Stock markets grow as the US expects the vaccine to be delivered soon

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

US Dollar         1.2900-1.3000

Euro                 1.5450-1.5550

Sterling            1.7250-1.7350

The US Dollar index is marginally weaker to start the last day of the month. The Greenback continues to weaken on the expectation that vaccines will flow in the next few weeks and then the economy will start to recover in the coming months. Ahead of this occurring there are a few black clouds still to be dealt with, The US Federal Reserve is expected to increase the amount of stimulus it is providing in December as the US Congress still cannot agree a new bill to help the US economy, I read this morning that the Senate is looking to put $2 Billion into the proposed government spending bill to build Trump's wall, I doubt the Democrats will go for that so if a agreement is not reached the government will need to shut down and I am sure Trump will enjoy that. Still lots to be concerned with in the US so there could still be room for a falling stock market and a stronger US Dollar.

The Canadian Dollar was able to take advantage of the weaker US Dollar and USD.CAD opens the day at the 1.2960 (0.7716) level, the Loonie is also marginally stronger against the other currencies so a strong ending the month for the Canadian Dollar. There are reports this morning that OPEC could not agree the next round of production cuts so that may be helping the commodity currencies today but the influence of the oil price on the Loonie is always transient in nature so we could still easily see USD.CAD move back higher throughout the week.