Cyber Friday 2017 Canadian Dollar Update
he Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $56.07 and gold is at $1,289. US futures are higher. There are no major domestic data releases scheduled for today.
The Canadian dollar is soft, trading narrowly of late in the absence of domestic data. Domestic rate expectations have moderated slightly following Friday’s CPI release, as inflation remains below the Bank of Canada’s benchmark. Domestic releases are limited ahead of Thursday’s retail sales data. Oil prices are soft. Monetary policy is poised to continue to be CAD’s primary driver as we move towards the end of the calendar year.