The loonie could get a second wind, though, if the variant is contained
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.Parts of the global economy made an impressive recovery in the first half of the year but those gains could stall as the Delta variant spreads across the world.
China, meanwhile, reported its highest number of cases since the end of January, while new infections have also spiked in Japan, where Tokyo is currently hosting the Olympics. So far, most U.S. state and local governments are taking a hands-off approach, believing the downside economic risk of taking action outweighs the health risk linked to the new variant.
“But the robust growth and more virulent inflation this year will likely push the majority into a less dovish camp.” The Delta variant could also impact the Canadian dollar, which has been trading closer to the 80-U.S.-cent value. Oil markets are also heading for their first decline in five days this morning as investors assessed the outlook for demand amid a resurgence in Covid-19 and as broader markets were on a softer footing.
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