Yesterday afternoon’s comments by Treasury Secretary Yellen that the U.S. economy will still see rapid inflation over the next few months, left markets a bit worried. Perhaps inflation may not go away as quickly as originally thought. Also, the Centre for Disease Control just issued a warning that U.S. covid daily death rate has jumped 26% over the past few days. The main concern is the unvaccinated who are now more at risk due to the new variants which are most virulent and in some come cases more communicable, this is going to affect areas of North America where in some cases small towns and poor neighbourhoods have seen no need to get vaccinated, this could become very dangerous.
The Canadian dollar is unchanged, the housing starts number was anticipated, leaving little room for movement. Commodities are mixed, metals are down, energy is up, and agriculture futures are higher. Expect a narrow range on the remainder of the day.