U.S. stocks rebounded from the biggest rout since 1987 after the Federal Reserve reintroduced additional crisis-era tools to stabilize financial markets roiled by the coronavirus. Treasuries slipped and stresses appeared in the short-term funding and front-edit credit markets.
Investors continue to struggle to adjust to an unprecedented upheaval in social interactions that looks set to plunge the world into recession. The S&P 500’s gain topped 3%, while the Dow Jones Industrial Average notched a 1% gain, weighed down by another rout in Boeing Co.
Meanwhile the Canadian Government is expected to release its own stimulus package tomorrow, P.M. Trudeau stated that they are looking at a range of things on how to get money into Canadians pockets.
Some larger retail stores across Canada are temporary closing for the next two weeks, Nordstrom, Nike, Sephora to begin with, other chains are cutting back on their hours, such as Walmart, Apple, and others.
The trend recently has been for a weaker Canadian dollar and will likely stay that way in the short term.
Currently Close Range
USDCAD 1.4131 1.4016 1.3961-1.4167
EURCAD 1.5502 1.5674 1.5449-1.5675
GBPCAD 1.7065 1.7199 1.6999-1.7200
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