The Austrian government has placed the country in a total lockdown while Germany warned it may do the same. Europe has again become the epicentre of the pandemic, accounting for half of global cases and deaths. A fourth wave of infections has plunged Germany, Europe’s largest economy, into a national emergency.
A touch of irony, the head of Austria’s far-right Freedom Party, Herbert Kicki, is furious with the Austrian government announcements and has asked that his party members plan a protest on the weekend, he himself however cannot attend as he has tested positive for Covid-19 and stay in quarantine.
Financial markets are neither up nor down but rather assessing the situation, if Germany does go into lockdown, the ripple effect will be enormous.
The Cad will trade on the weak side to the USD within a narrow range.
Currently* Close Range
USDCAD 1.2625 1.2600 1.2584-1.2662
EURCAD 1.4282 1.4323 1.4241-1.4334
GBPCAD 1.7003 1.7003 1.6944-1.7022
*Indicative Rates Only