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Markets trying to stem recent drops are having a difficult time

By MoneyWay | Sep 29, 2021

As winter approaches, energy commodities are holding steady, however analysts are calling for higher prices, West Texas Intermediate is currently $75 USD a barrel, expectations are for $80 USD or even higher. The Canadian dollar normally would get stronger, but as the USA is almost fully energy independent, the impact is not as severe as in the past.

Markets generally are still concerned with even as the number who are vaccinated grows. The big problem is when the vaccination levels plateau and those that are left do not want to vaccinate, this leaves the health system with systemic problems as these people will clog the hospitals leaving other patients on waiting lists to receive proper health care.

The Canadian dollar is weaker, metals as a group are down, copper, a key economic indicator is down 1% this morning and is down 12% of its recent highs. Expect the CAD to remain weak the rest of the day.

Currently*          Close                     Range

USDCAD               1.2755                   1.2685                   1.2668-1.2757

EURCAD               1.4808                   1.4817                   1.4775-1.4831

GBPCAD               1.7135                   1.7168                   1.7087-1.7190

*Indicative rates only

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