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Narrow range on Canadian dollar, likely to that way till Tuesday

By MoneyWay | Oct 18, 2019

As Canada’s election day looms, the Canadian dollar has started to trade in a narrow range and won’t change much until after the results are out. Indications are that the two main parties to close to call a clear winner and the likely hood of a coalition is very high. By looking at the U.S. financial web sites, no one seems to care as there are little to none articles about the election.

China announced that its economy grew by 6% in the third quarter from a year earlier. It’s believed to be China’s slowest GDP gain in at least 27½ years. In the second quarter of 2019, China’s statistics bureau said the economy 6.2% from a year earlier, as the country’s trade war with the United States took its toll.

U.S.

Stocks traded lower on Friday amid weak overseas data primarily China, but remained on track to post solid weekly gains after the release of better-than-expected earnings. 

                                Currently             Close                     Range

USDCAD               1.3131                   1.3137                   1.3128-1.3145   

EURCAD               1.4654                   1.4613                   1.4606-1.4654

GBPCAD               1.6935                   1.6935                   1.6871-1.6971

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