Markets are getting more concerned with the Covid Delta variant, investors worried that it hasn’t peaked

By MoneyWay | Sep 7, 2021

The Dow Jones and S&P 500 fell on Tuesday, as worries over the slowing pace of economic recovery overshadowed hopes that the Federal Reserve would maintain its accommodative stance a little longer after a soft U.S. payrolls report.

Tomorrow is the Bank of Canada Rate announcement, where it is fully expected there is no rate hike, however with the on set of the Delat variant it is highly unlikely the BOC will do anything or say anything until after the Federal Election. 

The CAD is a lot weaker due to the overall uneasiness and will trade on the weaker side for today.

                                Currently*          Close                     Range

USDCAD                    1.2636               1.2526              1,2519-1.2642

EURCAD                    1.4475               1.4874              1.4864-1.4975

GBPCAD                     1.7419              1.7365              1,7326-1.7425

*Indicative Rates Only

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