The Canadian dollar is stronger as commodities are picking up. Oil is trading at $42 USD a barrel, gold is up $26 USD an ounce, while silver is trading around $23 USD an ounce, copper is close to $3.00 USD a pound, these are all recent highs, giving weight to the CAD.
Also, Canada was able to retain its AAA rating with Standards & Poor thereby keeping its interest costs lower than anticipated, hopefully this is not a signal the Canadian government will go on a further spending spree during this pandemic.
Expect a narrow range today.
Currently Close Range
USDCAD 1.3365 1.3417 1.3366-1.3427
EURCAD 1.5526 1.5524 1.5477-1.5546
GBPCAD 1.7045 1.7086 1.6980-1.7090