Expected USD/CAD Range: 1.108 – 1.113
Update: The Canadian dollar is flat overnight after weakening slightly during the day yesterday. The loonie is currently at 1.110 against the US dollar. With the exception of a read on US wholesale inventory levels later this morning, few economic data points are expected today or tomorrow. With commodity and energy prices flat and the US dollar mixed against most majors, we expect little volatility unless geopolitical events intervene.
The Big Picture: The Bank of Canada remains cautiously optimistic on the Canadian economy but dropped its tightening bias in October. Indeed, at the moment, the primary concern of Governor Poloz seems to be inflation rates that are well below the Bank’s 2% target and the …Read More ›