USD/CAD every day
USD/CAD buying and selling could possibly be sapped in the present day by holidays however the pair stays dangerously near a serious break. The 35 pip rise in the present day brings the pair to 1.3941 and inside putting distance of the 2022 excessive of 1.3977.
It is chopped round these ranges since late October however has been reluctant to interrupt by way of. The market is attempting to weigh the impression of the US election, disappointing China stimulus and the way shortly the Financial institution of Canada will lower charges. In the mean time, pricing for the December 11 Financial institution of Canada assembly is 59% for 50 foundation factors a 41% for 1 / 4 level.
The Canadian financial calendar is gentle this week however subsequent Monday we get October CPI adopted by retail gross sales on Thursday.
Oil is one other issue weighing on the loonie, crude is down $1.66 to $68.68 in the present day, which is the bottom since Oct 31.
WTI crude oil every day
Final week I spoke with BNNBloomberg about my longer-term outlook for the loonie.
