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USD to CAD Morning Update — July 28, 2020

The currency markets are calm this morning with the USD index flat.  The Canadian dollar is weaker by just 0.1%.  Oil is down slightly but most of the attention is on gold which continues to trade at near record levels, though it has pulled back from the highs of a couple of days ago.  Equities look to open negative this morning as some corporate earnings disappointing.  In the US there is some focus on the latest iteration of the coronavirus relief plan and what will be included in it.  In Canada, the May GDP figures to be released on Friday will further clarify the economic circumstances and the required policy respones.


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