Monday starts the week off on a positive tone as investors are analyzing just how much of an impact Covid is having on global economies. The concern is the supply chain disruptions that are affecting not just computer chips for automobiles, shortages of metals, plastics, wood and other daily items are now the norm. These delays are not just causing economic slowdowns, but even if the supplies that are required show up, the price now paid is far higher than the original orders and is causing a real and possible permanent strain on inflation. Central banks are now feeling pressure to keep inflation in check as it now appears that it not a temporary situation.
The Canadian dollar is stronger to the USD as energy commodities rise, supply disruptions will cause most commodities to move higher, giving reason to but the CAD.
Currently* Close Range
USDCAD 1.2655 1.2689 1.2639-1.2694
EURCAD 1.4943 1.4991 1.4914-1.4989
GBPCAD 1.7515 1.7560 1.7495-1.7561
*Indicative Rates Only
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