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Markets are basically unchanged, still assessing Delta Variant

By MoneyWay | Aug 12, 2021

Investors are now pondering as to where we go from here, economically things are great, but what about Covid? Yesterday, there were 155,576 new cases in the U.S., last time numbers were this high was in November of last year. Most, if not all, of the cases are Delta variant strain and most if not all of the patients are unvaccinated. States where the vaccination rate is low are being overwhelmed, hospitals are now at excess capacity and hospital staff are back at the possibility of deciding who lives and who dies. The need to immunize is even greater than before.

Businesses are now reevaluating their future plans and some have put expansions on hold till this fourth wave subsides.

The Canadian dollar is currently stuck in a narrow range and will likely stay that way in the short term, however, the inclination is for a weaker CAD.

Currently*          Close                     Range

USDCAD               1.2510                   1.2504                   1.2496-1.2529

EURCAD               1.4693                   1.4676                   1.4658-1.4698

GBPCAD               1.7310                   1.7332                   1.7292-1.7367

*Indicative rates only.

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