Equities on both sides of the border are up, while currencies are generally flat

By MoneyWay | Jul 23, 2021

Second quarter earnings have carried equity markets into positive territory for the week, markets have not only brushed off Monday’s drop but are now even higher. Commodities are mixed, energy is barely higher, metals are down and agricultural futures are down as well.

The Canadian dollar is following suit, slightly weaker to the USD, retail sales although down were better than anticipated, leaving traders with no reason to trade one way or the other.

Expect a narrow range today as the week ends.

Currently*          Close                     Range

USDCAD               1.2582                   1.2564                   1.2555-1.2607                   

EURCAD               1.4801                   1.4801                   1.4772-1.4822

GBPCAD               1.7308                   1.7289                   1.7248-1.7330

*Indicative rates only

                                                                                                                Prior                      Actual

CA:         Retail Sales May               M/M                                     -5.7%                     -2.1%

                                                                Y/Y                                         56.7%                    24.6%

US:         PMI Composite Flash July                                             63.9                        59.7

                        Manufacturing Index                                             62.6                        63.1

                        Services Index                                                          64.6                        59.8

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