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USD to CAD Morning Update — July 20, 2020

The markets are starting the week on a very calm note.  Equities look to open unchanged from last week’s close, oil is flat, and the US dollar is generally stable against its major peers.  The USD to CAD exchange rate is also unchanged from last Friday.  USD/CAD has been trading rangebound for several weeks now and will likely continue to do so until there is either a change in global sentiment or something in the economic data that changes the picture here in Canada.  Beginning on Tuesday, we will get a slew of economic data in Canada and the US which has the potential to change the market’s perspective.  Prior to that, we do not expect much volatility in the value of the Canadian dollar.


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