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USDCAD trending to 1.3000 level, Tropical Storm Barry to blame

By MoneyWay | Jul 12, 2019

Tropical Storm Barry is moving through the Gulf of Mexico and it could become a hurricane before its expected landfall in Louisiana tomorrow, bringing a dangerous downpour that could inundate rivers, streets and homes. Barry has already curbed about half the production of energy resources in the Gulf of Mexico, helping lift oil prices to a seven-week high. It’s also disrupted ship traffic in the Mississippi River, where water levels are rising. The CAD has strengthened on this news and will likely remain unchanged the rest of today.  

       

                                Currently             Close                     Range

USDCAD               1.3043                   1.3072                   1.3018-1.3077

EURCAD               1.4679                   1.4710                   1.4653-1.4715

GBPCAD               1.6375                   1.6367                   1.6318-1.6395

                                                                                   Prior                      Actual

US:         Producer Price Index June M/M                0.1%                      0.1%

                                                                    Y/Y                     1.8%                      1.7%

                                                 

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