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
US: Producer Price Index June M/M 0.1% 0.1%
Y/Y 1.8% 1.7%