Markets are mixed no real change on USDCAD

By MoneyWay | Dec 2, 2020

The USDCAD has had a narrow range so far today and will likely stay with a narrow range over the next few days, the USD itself is trading at a two & year low against most other currencies. The GBP seems to be  the vulnerable currency in the Brexit talks as negotiators were reportedly stuck on differences over fisheries, state aid for companies and rules to resolve disputes, offsetting any optimism from Britain becoming the world’s first country to approve the Pfizer-BioNTech COVID-19 vaccine. The GBP is weaker this morning.

North American equities and the CAD are in a holding pattern at the start of the new year, still waiting on Washington to come up with some form of a stimulus plan. Yesterday’s proposal was shot down by Senate Majority Leader Mitch McConnell, but he said he wants to pass some sort of relief bill this year, hasn’t what time of year.

Expect a narrow range.

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