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Canadian Dollar Morning Update — May 28, 2020
The Canadian dollar is holding steady this morning as the market considers various economic and geopolitical issues on the horizon. The loonie has gained 1.4% so far this week as all markets have begun to price in a rapid economic recovery. As “risk” perception has dissipated, the Canadian dollar has gained. There is some focus on potential Chinese retaliation against Canada after yesterday’s controversial court ruling but that is unlikely to have a short term impact on our currency. Tomorrow’s GDP figures will be interesting to watch. Oil is flat this morning.