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Canadian Dollar Morning Update — May 27, 2020
It is a mixed day in the markets. Tech stocks are down heavy but other sectors are mostly up. Oil is down for the first time in a while. Rates are flattish. The Canadian dollar is taking a break from its strong performance over the last few days and is down 0.25% in late morning trading. As with the last few days, all the attention is on economic reopenings. Sentiment remains generally positive about reopenings but views about what the new normal might look like are still mixed. In Canada, bank earnings reports are overwhelmed by the expected large loan loss provisions. We remain particularly interested in Friday’s GDP report as an early indication of the health of Canada’s economy during the crisis.