Trusted Foreign Exchange and Telecom Partner SINCE 2001

Canadian Inflation rate rose to 4.1%, its highest level since 2003


16.09.2021
Canadian Inflation rate rose to 4.1%, its highest level since 2003

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

US Dollar             1.2600-1.2700

Euro                     1.4850-1.4950

Sterling                1.7450-1.7550

 

The US Dollar Index is stronger this morning as markets start to get ready for next week's all important Federal Reserve Meeting where some decisions about tapering the stimulus program are expected. The big fear for the global economy seems now to be energy prices that is creating havoc in Europe, it has forced several large factories to close and has also forced a big change in the UK government as support for the Conservatives is dropping quickly. With inflation moderating in the US last month there is hope that the Fed can begin to cut back on their stimulus program but if the rest of the world is in turmoil, they may wait a little longer.

 

The Canadian Dollar had a bit of a rally yesterday has the Canadian Inflation rate rose to 4.1%, its highest level since 2003 and well above the Bank of Canada target range. The next BOC meeting is Oct 27th so we may be in for more volatility ahead of that meeting next month. USD.CAD opens the day at the 1.2645 (0.7908) level and it should be able to hold onto those gains for the day.

 

It is beginning to look like another Liberal Minority government as according to the Globe and Mail Poll released this morning, they hold a big lead in the all-important seat rich GTA. Markets will just shrug off this result and it should not affect the Loonie.

 



Comment (0)
Name*:
E-mail*:
Comment*:
Security code* (enter digits in the frame)
Security code
Also read
04.08.2023

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

US Dollar         1.3325-1.3425

Euro                 1.4600-1.4700

Sterling            1.6950-1.7050

12.05.2021

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

US Dollar         1.2050-1.2150

Euro                 1.4600-1.4700

Sterling            1.7025-1.7125

13.12.2021

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

US Dollar             1.2700-1.2800

Euro                     1.4350-1.4450

Sterling                1.6900-1.7000