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October starting to look like it’s living up to it’s worst month of the year for markets

By MoneyWay | Oct 6, 2021

Volatility and October seem to go hand in hand, it is the month which has had the two worst crashes , 1929 and 1987, plus there were sell offs in 1997, 1978,1979, and 1989. So, it stands to reason to have white knuckles riding out the month.

The Canadian dollar is having its fair share of volatility even with oil at recent highs, inflation is not fully anchored in the world’s economies as central banks continue to use “supply disruptions” as the excuse for this and imply that this is strictly short term. Once the buying public is used to paying higher prices and the “supply disruptions” are rectified, don’t expect prices to come back to pre-pandemic levels.

Expect the Canadian dollar to follow all trends and not just commodities as the USA is not self sufficient in energy needs.

Currently*          Close                     Range

USDCAD               1.2615                   1.2581                   1.2576-1.2647

EURCAD               1.4567                   1.4589                   1.4563-1.4624

GBPCAD               1.7112                   1.7147                   1.7108-1.7161

*Indicative rates only

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