Markets are staying in a bit of a holding pattern, investors are still not sure as what the fourth wave is doing to the world’s economies. Confusion as to what vaccines are better and whether booster shots are really necessary, are adding uncertainty to the mix. Supply chain disruptions are now across the board no sector seems to be immune from the lack of products. It is going to take a lot longer than the central banks to get through this pandemic and inflation is not going away as quickly as expected.
The energy sector continues to move higher, concerns of a natural gas shortage in Europe may impact home heating costs this winter globally as gas traders will shift their products to markets commanding the best price.
The Canadian dollar has traded basically in a narrow range, it seems nobody cares about the federal election, expectations are that the business climate in Canada will remain unchanged.
Currently* Close Range
USDCAD 1.2655 1.2650 1.2600-1.2670
EURCAD 1.4966 1.4938 1.4917-1.4973
GBPCAD 1.7535 1.7504 1.7499-1.7563
*Indicative Rates Only