Currencies unchanged, markets now realizing there may be no rate cut

U.S. stocks fell on Monday, dragged down by losses in Apple and Boeing and as investors cut back bets of an aggressive interest rate cut by the Federal Reserve later this month. Bets of a 50 basis point cut now hover around 7%, down from about 20% a week ago, according to CME Group’s FedWatch program.

Oil prices moved slightly higher on further nuclear threats from Iran on its enrichment program. Iran on Monday threatened to restart deactivated centrifuges and step up its enrichment of uranium to 20% in a move that further threatens the 2015 nuclear agreement that Washington abandoned last year. On Sunday, Trump issued another warning over Iran’s nuclear activities. “They’d better be careful,” he said. However, higher oil prices have been held in check as  lingering worries about demand as the U.S.-China trade war has dampened prospects for global economic growth.

Currently             Close                     Range

USDCAD               1.3081                   1.3081                   1.3049-1.3099

EURCAD               1.4676                   1.4683                   1.4637-1.4689

GBPCAD               1.6370                   1.6384                   1.6329-1.6395