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 1.2050-1.2150
Euro 1.4650-1.4750
Sterling 1.7100-1.7200
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2900-1.3000
Euro 1.3600-1.3700
Sterling 1.5950-1.6050
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2675-1.2775
Euro 1.3775-1.3925
Sterling 1.6700-1.6850
