USDCAD FOREX EXCHANGE LOWER MIDDAY Monday August 21
USDCAD FOREX EXCHANGE traded at 1.2584 on Monday August 21. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.
The Loonie is quiet today as it consolidates in a narrow range. Commodities are mixed this morning with oil consolidating from Friday’s gains. We have Wholesale trade data this morning, which printed below forecast and Retail Sales will release tomorrow.
The USD is trading softer today on quiet market trading. The focus this week will be Jackson Hole this Friday where FED Chair Yellen and ECB President Draghi will speak. Expectations for Fed tightening has once again soften with the possibility of a December rate hike down to 30%. Equities are slightly weaker today as the broader market tone looks to be one of mild risk aversion. On the data front, there’s no major data release today. The next major data release will be US Oil Inventories on Wednesday and Unemployment Claims on Thursday. FC
USDCAD FOREX EXCHANGE
The expect a range today of 1.2519 to 1.2619
Canadian Dollar vs Euro and Great British Pound
Quiet day on the fundamental front in Europe today, but there will be more data to come later this week. Perhaps the most anticipated event this week will be Draghi’s appearance in Lindau, Germany on Wednesday and Wyoming, US on Friday where he will be speaking. There are rumours that he is expected to make no major shift in tone in his appearances. The Euro is currently trading at 1.4810. CK
We expect a range today of 1.4759 to 1.4888