In line with expectations and this does not help the Federal Reserve with its inflation targets. Demand is outpacing supply and the sooner supply disruptions are dealt with, the sooner inflation can stay in check. The PPI report is one of two key inflation readings this week. The Labor Department on Wednesday will release the October consumer price index, which is expected to show a 0.6% monthly increase for all goods, translating into a 5.9% annual gain.
Equity markets are acting a little cagey, not sure if this is the top for a while or can supply disruptions be contained? Commodities are generally positive, natural gas is the exception down 8.7% this morning, it looks like natural gas pipelines are coming into service providing much needed supplies. The Canadian dollar is unchanged and will likely stay in a narrow range today with a slight weak bias.
Currently* Close Range
USDCAD 1.2445 1.2441 1.2428-1.2485
EURCAD 1.4425 1.4415 1.4393-1.4462
GBPCAD 1.6873 1.6869 1.6859-1.6914
*Indicative Rates Only
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