Account to Account
USD to CAD Morning Update — August 4, 2020
The US dollar has started August stronger against most major currencies. This comes after the weakest month performance in July for the US currency index in nearly a decade. Against the Canadian dollar the USD continues to hover around the pre-knockdown levels. This morning, ongoing tensions between the US and China (this time around the TikTok app) are pressuring trade-sensitive currencies like the Loonie, which is down 0.15% from yesterday. Oil is weaker by over 1% and the stock market is flat. In the absence of unexpected news, we do not expect much volatility today in USDCAD.