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Canadian Dollar Morning Update — June 2, 2020

The Canadian dollar continues its climb, up another 0.3% this morning.  The loonie has now gained approximately 4% since mid-May.  The civil unrest in the US is not impacting the markets, which continue to be focused on the so-far relatively successful partial economic re-openings.  Once again this morning, all risk assets are moving up in tandem.  Equities are up, oil is up, the US dollar is broadly weaker and yields are tighter.  While some remain skeptical, the market is now pricing in a v-shaped recovery aided by massive fiscal and monetary stimulus.


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