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Markets are giving back a little at month end, Canadian dollar is slightly positive

By MoneyWay | Nov 30, 2020

As airlines are now transporting the first of many mass shipments of Pfizer’s Covid vaccine to the United States, Moderna another vaccine producer says that its final trials show that its product is 94% effective and is asking for emergency FDA approval. This means that that there will two vaccines available by Christmas, good news.

In Canada, the federal government will release its fiscal update, it has been expected for some time. At 1:00 pm PST, Deputy Prime Minister and Finance Minister Chrystia Freeland will rise in the House of Commons to outline details of her plan to both boost job creation and cut greenhouse gas emissions. Canadians are hoping for some kind of blueprint for the economy, expectations are for help for the travel industry, long-term care homes, and green house gas reductions. However, that being said there is not much room for the government to spend as its budget deficit is nearing 16% of Canadian GDP, a significant amount. We will know this afternoon.                     

                                       

Currently             Close                     Range

USDCAD               1.2978                   1.2987                   1.2923-1.3001

EURCAD               1.5505                   1.5530                   1.5487-1.5553

GBPCAD               1.7320                   1.7286                   1.7257-1.7348

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