Equity Indexes are trading at or very near yesterday’s closing levels, while the USD is a bit weaker to the CAD. Oil prices have gained back yesterday’s losses, leaving prices unchanged to last week ‘s closes. The negative news this morning is Credit Suisse taking a US$4.71 billion hit on the bank’s exposure to Archegos Capital which had incurred sever losses last week. Credit Suisse has been forced to cut its dividends and staff bonuses to mitigate some of the losses and cancel its share buyback program. Overall markets at this point have taken this in stride however, the other banks involved have yet to announce their losses, we will have to wait and see.
Expect narrow a range on the USDCAD.
Currently* Close Range
USDCAD 1.2540 1.2521 1.2516-1.2575
EURCAD 1.4860 1.4789 1.4790-1.4870
GBPCAD 1.7357 1.7400 1.7352-1.7444