Falling oil prices and turmoil in emerging markets are weighing on the Canadian dollar. The US dollar is higher against CAD for the fourth straight day. The pair touched a six-week high of 1.0448 in European trading as it breaks out of a wedge pattern.
USD/CAD daily chart
At the top of the hour, options with strikes at 1.0450 and 1.0460 expire. Together, the value of the two options only add up to about $100 million so they’re probably not large enough to move the market but it’s quiet so you never know. Bigger options are in EUR/CAD but they are priced well-below spot, however the pair is struggling ahead of 1.40, topping out at 1.3997. There are also some AUD/CAD options rolling off at 0.9500 and higher
There are larger USD/CAD expiries on Friday at 1.0285, 1.0310 and 1.0460.