Markets waiting for FOMC announcement, things are generally unchanged

By MoneyWay | Apr 28, 2021

The Canadian dollar is a bit better to the USD, however, any significant move will likely take place after the FOMC announcement. No Rate hike is a given for the rest of the year, but the Fed must address the shift in the housing markets and equities and commodities, these have become too big to ignore. Cheap financing has helped Western economies get back on their feet a lot quicker than expected. Therefore do not be surprised if the FED shortens the next rate hike date, if so, then theoretically the USD should improve to most currencies, we shall wait and see.

                                Currently*          Close                     Range

USDCAD               1.2355                   1.2393                   1.2352-1.2417

EURCAD               1.4945                   1.4984                   1.4945-1.4999

GBPCAD               1.7190                   1.7244                   1.7181-1.7258

*Indicative rates only

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