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Stock markets show good signs of rebound and expect potential gains in 2021

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USD index gets stronger again as covid continues to affect the global economy. The US Dollar index is again higher overnight as the currency market reacted to yesterday's melt down in the US stock market and the ever-increasing spread of the virus, especially in Europe. With both France and Germany returning to lockdown states there is a growing concern that the recovery will be derailed and both of the Euro and Pound are trading weaker again this morning. ... This morning the European Central Bank gives an update on its interest rate policy and previously it had been thought that the Central Bank would remain static but with the latest developments with the virus a case could be argued for further interest rate cuts and more stimulus which would drive the Euro lower and the US Dollar even higher. The Canadian Dollar opens the day weaker against the US Dollar as USD.CAD has reached a high of 1.3360 (0.7485) its highest level in almost a month. Yesterday the Bank of Canada basically said they would keep interest rates at current levels until at least 2023 when inflation should reach its 2% target level. It looks like the Loonie will remain at the mercy of the markets for some time. We may see a slowing of the stock market decline today as the economy gets the US GDP report for the 3rd quarter and it is expected to show that the US economy rebounded 30+% in the quarter. This would be the biggest gain in history for the economy but of course it has to be tempered by the fact that it is coming off the biggest decline and the question of what will the increase in the virus bring for the fourth quarter. If we see the stock markets rebound a little today the US Dollar should trade weaker and the Loonie pick up some strength. https://www.kantor.ca/blog?blog/300

Dow Jones is about to hit its highest value since 2018. Read a full article below to know how this might affect the US Dollar index.

USD rises dramatically as we continue to experience a global spike in Covid-19 cases. The US Dollar index is again much higher as the the virus continues to grow and any hopes of a US stimulus plan ahead of the election seems to have faded. Global investors seem to be pairing back their investments ahead of next Tuesday's US elections as they will want to see that the final results are confirmed quickly and will not need to be looked at by the Supreme Court regardless of who ...wins. The Canadian Dollar has bourn a lot of the brunt of the stronger US Dollar this morning as USD.CAD opens the day at the 1.3265 (0.7539) level, its highest level since the beginning of the month. It is not all doom and gloom for the Loonie as it was able to hold its own against the Euro and Pound, both of those areas have expanding virus cases and markets have also punished their currencies against the US Dollar. A busy day on the calendar today with the Bank of Canada interest rate decision and Monetary Policy Report. There is no expectation that the Bank will change their current interest rate policy but Canadian markets will be watching closely on what they say about the Canadian economy and what they plan to do if the Government is forced to shut down the economy once again. Either way we should see enhanced Canadian Dollar volatility around the announcement so the rate may be very different tomorrow from what it is now. https://www.kantor.ca/blog?blog/299

While stock and currency markets remain quiet and wait for the US presidential election, let’s take a moment and enjoy this beautiful fall season. Toronto inspires us by offering its most saturated colors so let’s adore the life we live and fill our souls with warmth and love to each other. Photo by: @rahuul_s

Stock markets fall due to global spike in covid-19 cases. The US Dollar index is stronger this morning as investors move out of stock markets and into safe haven investments as the number of cases of the virus have dramatically increased around the world. Stock markets are down globally this morning and the Dow Jones is set to drop almost 300 points on the opening as I write. The lack of agreement on a stimulus package is not helping the US situation and markets will remain u...nder pressure as long as the virus continues to grow. The Canadian Dollar has felt the effects of the stronger US Dollar overnight with USD.CAD opening the day at the 1.3190 (0.7582) level, its highest level in a few sessions. The Loonie also lost ground to both the Euro and Pound so it clearly investors are not flocking to Canada as a safe haven investment at the moment. It is a busy week on the calendar with lots of GDP data due out at the end of the week but up first on Wednesday we get the Bank of Canada Monetary Policy Report and their interest rate decision. The Canadian market will be watching closely as to see what the Bank says about the Canadian recovery but until then the Loonie will remain trading with a weaker bias as long as the virus continues to expand and investors leave the stock markets. https://www.kantor.ca/blog?blog/298

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Markets are quietly waiting for the US presidential election winner. The US Dollar index is for the most part unchanged in a quiet overnight session as the last debate is over and the prospects of a US stimulus package before the election grow slimmer. Markets rallied yesterday afternoon and appear to be opening stronger this morning as investors will now wait and see what the outcome will be in just over 10 days. The rapid growth of the virus and its effects on the economy w...ill be front and center over the reminder of the time leading up to the election and stock markets could remain volatile. The USD.CAD currency pair remains range bound and it is looking more and more like it will stay that way until the election, the Loonie opens the day at 1.3125 (0.7619) level after falling from a high if 1.3170 (0.7593) overnight. We do get the Bank of Canada interest rate announcement next week but I doubt they will change their stance and say anything different that will change the course of the Loonie so the Canadian Dollar trading should stay subdued. Nothing of note on the calendar for today so look for a quiet day of back and forth trading in the currency markets. We should see some wild, desperate and outrages claims from Trump as the final days count down which hopefully won't rattle the markets. https://www.kantor.ca/blog?blog/297

I guess nobody is surprised, but the amount is huge! Looks like auditors will have lots of work soon.

Bitcoin has jumped above US$17,000 and reached its highest level since December 2017. Most analysts claim that such a big spike is related to the pandemic and its impact on the global economy. Investors started to move their funds out of stock markets and purchase cryptocurrency as they believe it can become a new shelter from shares volatility. So, check your crypto wallets, maybe it’s time to reconsider your investment portfolio.

US Dollar index gets a little stronger as markets are still watching the Republicans and Democrats negotiating on the stimulus package deal. The US Dollar index is marginally higher this morning as markets still are in wait-and -see mode with the ongoing discussions between the Democrats and Republicans on an updated Stimulus package for the US economy. Treasury Secretary Munchin and House leader Pelosi continue to talk and there was some optimism yesterday that they could re...ach a deal near the $2 Trillion mark but the question remains will the Republicans support such a number. They have not in the past so it will be up to Trump to convince them, he needs a deal to help his flagging political fortune. In the EU, Brexit negotiations continue after the UK Government agreed to further talks with the aim of getting a deal done by the middle of November. Sterling jumped higher on this news overnight so there is renewed optimism that a deal can be reached by the deadline. The Canadian Dollar had an up and down night with USD.CAD reaching a low of 1.3090 (0.7639) before pulling back to open the day at 1.3165 (0.7596). I think the Loonie did a little better yesterday on the growing optimism of a US stimulus deal but when it became evident that a deal was not going to happen overnight the Greenback jumped and the Loonie suffered. The Canadian inflation data for September came out yesterday and it was slightly higher than expected but nothing to get too excited about. The market will get a sense of what the Bank of Canada is thinking on inflation when they have their interest rate meeting next week. Markets will be watching the polls after tonight's debate. Realistically it is Trump's last chance to turn around his fortunes, if it looks like a Biden victory in the coming days then I think stock markets will turn positive and the US Dollar will fall back. https://www.kantor.ca/blog?blog/296

CAD might be affected by the Canadian Inflation report that's due today. The US Dollar index has fallen to a one-month low in a quiet overnight session as there appears to be some optimism that that Congress will agree a new stimulus bill that will be passed before the election. While there is much opposition from the Republicans to the size of the plan the Democrats are proposing Trump is desperate to get some positive news to help his failing campaign so it is likely that h...e will put pressure on the Republicans to get a deal done. If this happens you should see stocks rebound and the US Dollar trade weaker. The Canadian Dollar was able to pick up some small gains against the US Dollar as it opens the day at 1.3110 (0.7628) level, as we have seen in the past USD.CAD is range trading at the moment and just following events south of the border. I got my calendar days mixed up yesterday and the Canadian Inflation report is actually due out today so we may see some movement in the Loonie this morning. I will be interested to read how the Bank of Canada looks at this report and how the Dollar reacts as research is pointing to the fact that the change in Canadians spending patterns brought on by the pandemic may be influencing inflation in very different ways than in the past. This change in spending may lead the Bank to accept higher inflation over the medium so they can keep supporting the economy with lower interest rates. https://www.kantor.ca/blog?blog/295

US Dollar index goes down as reports indicate the possibility for the US economy stimulus package to be approved before the election. The US Dollar index is marginally weaker this morning as there are reports that the Democrats and Republicans have "narrowed the gap" in their stimulus talks which is desperately needed to help the US economy. The stock markets certainly need a deal in the next day or two as it has taken considerable losses along side a stronger US Dollar. over... the last few days. If the market does get a deal before the election then you will see stocks jump higher and the US Dollar take a hit. In the UK, Brexit talks continue as the EU stated that they remain committed to push through on talks to reach a deal. For the moment Sterling remains quite strong but if a deal is not reached then you will see the Pound drop off quite a bit. Nothing new to report on the Loonie, USD.CAD remains range bound and opens the day at the 1.3190 (0.7582) level. Every time over the past few days when the currency pair reaches the 1.3200 (0.7576) level it falls back so it will take a good push to get the pair to hold in above that level at the moment. We get the Canadian Inflation report for September today and it is expected to show that all of the government stimulus programs is putting a little pressure on inflation. If inflation were to suddenly start to run hot then the Bank of Canada would be in a tough situation on whether to increase interest rates to keep inflation low or to let it run and support growth with low interest rates. It will be something to watch for over the coming months. https://www.kantor.ca/blog?blog/294

Negotiations on the stimulus package for the US economy keep stock markets contented. The US Dollar index is higher this morning as the markets were buoyed by hopes that a new stimulus package for the US economy could be agreed upon by tomorrow so that it could be put in place by Congress before the election. I think any large package will have a tough time getting through the Senate but if Trump is throwing in the towel he may try and take a few Republicans down with him if ...they don't give him the package that he wants. Right now stocks are pointing 200 points higher thus so far they like the news. The EU and UK are meeting again to try and keep Brexit talks on the rail as Johnson said they were over on the weekend. It is a big game of chicken right down to the end so we shall see if they can get a deal done. Right now Sterling is doing quite well but if they finally come out and say that they are moving ahead with a No-Deal Brexit then you will see Sterling take a big hit. The Canadian Dollar is stronger this morning as USD.CAD opens the day at 1.3170 (0.7593) down from the overnight high of 1.3190 (0.7582). Once again there is nothing domestically happening that is influencing the Canadian Dollar at the moment, our dollar is still trading at the mercy of the US Dollar and looking for a sense of direction, it will most likely remain that way until the election is over. The Calendar is quiet today with the exception that we have the Federal Reserve Chair speaking on the economy and the Bank of Canada providing their Business Outlook Survey results which will give us a window into what they are thinking about the Canadian economy. https://www.kantor.ca/blog?blog/293

US Dollar index gets stronger again as stock markets investors continue to be nervous about rising covid cases and the delayed stimulus plan. The US Dollar index is marginally stronger again this morning as markets continue to be affected by the spread of the virus globally and the inability of the US Congress to agree a stimulus plan. There appears to be trouble in paradise as the Trump's Treasury Secretary Munchin indicated if Trump and the Democrats could reach a stimulus ...deal the President would "lean" on the Republicans to get the deal finalized. Senate leader Mitch McConnell immediately rejected that idea showing some division with the President as they may feel he won’t be re-elected and are going it alone. The Senate is going to vote on a $500 Billion stop gap plan that if passed by the Democrats would help America get to the election in better shape. Again this lack of agreement on a stimulus plan will keep stock markets nervous and help push the US Dollar higher. In the UK it is decision day as Prime Minister Johnson is set to announce whether the UK will continue to negotiate with the EU on the Brexit deal or break off the talks and start planning for a "No Deal Brexit". If the latter happens then look for the Pound to get hit hard. USD.CAD is marginally lower this morning, the currency pair opens the day at the 1.3190 (0.7581) level but that was after it traded an an overnight high of 1.3255 (0.7544). The Loonie has held its own against the Euro and picked up some strength against the Pound. On the calendar for today we get the US Retail Sales report for September which I don't think markets will be all that concerned with. US Jobless claims yesterday showed the employment picture is getting worse in the US so markets will continue to watch the rise in virus cases and for any possible stimulus agreements coming out of Washington. https://www.kantor.ca/blog?blog/292

Global rise of covid cases and postponed stimulus package strengthened the USD. The US Dollar index is stronger this morning in the face of global rise in the cases of the virus and all hopes of a stimulus package before the election being swept away. Stocks have traded negative over the past couple of days and look set to fall again today as investor money is leaving the stock market and looking for safe haven investments in light of the fact that no stimulus money is going ...to help the US economy any time soon. In the UK the Pound remains under pressure as negotiations continue on a Brexit deal with no sign of completion any time soon. The Canadian Dollar has lost ground to the stronger US Dollar over the last session but it has been able to hang onto its strength against the Euro and Pound. USD.CAD opens the day at the 1.3200 (0.7576) level which is the pair's highest level in a week. Once again there are no domestic factors driving the Loonie's direction at the moment, our Dollar is still being pushed around by weakness in the stock market and the current situation in the US, I think it will stay this way for a while yet. Nothing of major importance on the calendar for today so look for USD.CAD to range trade around the 1.3200 level and we will see once again what happens south of the border. https://www.kantor.ca/blog?blog/291

Biden's lead in the election race holds the US Dollar index at a low level. The likelihood of Joe Biden victory at upcoming presidential election grows and therefore investors feel confident about placing their dollars into the stock markets. ... The reason for that is Biden’s intention to offer a fiscal stimulus package after the election, which is expected to have positive effect on the US economy and the stock markets in particular. Although several Wall Street banks forecast a stimulus package to come regardless of which candidate wins, it is anticipated to be a bigger one if Biden takes the presidency combined with Democrats also retake the Senate control. Considering all of the above, there is no foreseeable reasons for the US Dollar to rise significantly in the nearest future. However, if Biden loses the lead in the election race, we might see some fluctuations again. https://www.kantor.ca/blog?blog/290

US Dollar index remains weak as stock markets show no incentive to fall in the near future. The US Dollar index is stronger this morning after trading weaker last night on the prospects of another "Tech" rally in stocks that is starting to unfold. Overnight drug maker Johnson & Johnson suspended a vaccine trial as a patient came down with an unexplained illness. Stocks gave back some small gains on the news and the Dollar recovered some earlier losses but overall Stocks shoul...d have a strong day and the US Dollar will trade a little weaker. I think markets are now pricing in a Biden win which stock markets will like as there will be a quick stimulus package for the economy should that happen. But we must remember that Clinton had a lead in the polls just weeks before the last election and she lost so don't count out the "Donald" just yet. The Canadian Dollar has rallied over the Thanksgiving weekend and USD.CAD opens the day near the 1.3100 (0.7633) level. It was helped along by the stronger than expected September jobs report and the weaker US Dollar over the holiday yesterday. If the US Dollar remains weak and the Stock Markets remains strong then you should see the Canadian Dollar make further gains against the Greenback this week. https://www.kantor.ca/blog?blog/289

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