The USD continues to weaken against most currencies for the fifth day in a row, the CAD has benefitted from this movement, it continues to move closer to that important 1.3000 level. It broke this level twice, November 8th and 9th, only to move back up, if it breaks again and stays there, it is likely we will be in a new trading range.
The Democrats and the Republicans still refuse to budge on the second stimulus program, with the holidays fast approaching it would appear that some Americans won’t be able to afford a lump of coal or even a fireplace to light the coal.
Currently Close Range
USDCAD 1.3050 1.3102 1.3056-1.3117
EURCAD 1.5485 1.5540 1.5477-1.5556
GBPCAD 1.7345 1.7348 1.7338-1.7412
CA: Consumer Price Index October M/M -0.1% 0.4%
Y/Y 0.5% 0.7%
US: Housing Starts & Permits October
Starts Annual Rate 1.459M 1.530M
Permits Annual Rate 1.545M 1.545M
Petroleum Status Report wk11/13
Crude Oil Inventories w/w 4.3M Brls 0.8M Brls
Gasoline Inventories W/W -2.3M Brls 2.6M Brls