USDCAD: open 1.3893 overnight range 1.3822-1.3939 close 1.3826, WTI $70.98, Gold, $2720.82
The Canadian dollar is back on the defensive following Donald Trump’s election victory.
The US election overshadowed all else. The release of the Bank of Canada’s Summary of Deliberations barely caused a ripple.
Asian markets followed Wall Street’s gains, with Japan’s Topix advancing 1.94%, while Australia’s ASX 200 rose 0.83%. European markets also moved higher, led by a 1.41% gain in the French CAC 40. S&P 500 futures are up 2.30%.
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EURUSD dropped from 1.0938 to 1.0686 in early New York trading. Better-than-expected economic data from Germany and the Eurozone, including a 4.2% month-over-month increase in German factory orders and a modest rise in Service PMI, failed to provide any support.
There is no notable US or Canadian economic data today.
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