Today's
expected range for the Canadian Dollar against the US Dollar is 1.0125-1.0200
Today's
expected range for the Canadian Dollar against the Euro is 1.3210-1.3280
Today's expected range for the Canadian Dollar against Sterling is 1.5500-1.5575
The
US Dollar is marginally weaker this morning in quiet overnight trading
conditions. Reports out of China that inflation was not as high as expected
helped push the US Dollar a little lower, in the UK Sterling was buoyed by a
stronger than expected industrial production report, while in the rest of
Europe the Euro traded a little lower on a report out of Germany that showed
exports are declining in that country.
The
Euro should remain under pressure as it looks like Slovenia will be the next
European country to need to bail-out their banks. Given the recent events in
Cyprus where account holders had to take a haircut on their deposits I will
watch with interest to see if the same template is also used in Slovenia.
Elsewhere in Europe, the Portuguese high court struck down the countries austerity
measures forcing the government to say that they will find the cuts elsewhere,
look for more unrest in that country.
The
Canadian Dollar has held onto its modest gains from yesterday as it continues
to try and find the strength it lost on Friday in quiet trading markets, the Lonnie
is proving to be quite resilient as even a very poor jobs report could not
knock it down. With only some secondary data due out of the US and Canada this
morning I am not expecting a big trading
range for USD.CAD, most of the currency trading will continue to focus on the
EURO. Look for the Loonie to rally a bit more today with a possible test this
week of 1.0100 at some point.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0161 | 1.0169 | |||||
| CAD/USD | 0.9841 | 0.9833 | |||||
| EUR/USD | 1.3034 | 1.3022 | |||||
| EUR/CAD | 1.3247 | 1.324 | |||||
| STG/CAD | 1.554 | 1.5569 | |||||
| AUD/CAD | 1.0629 | 1.0581 | |||||
| CAD/JPY | 97.3 | 97.02 | |||||
| CAD/CHF | 0.9204 | 0.9183 | |||||
| CAD/HKD | 7.6189 | 7.6153 | |||||
| CAD/CNY | 6.1016 | 6.0989 | |||||
| CAD/MXN | 11.9829 | 11.9519 | |||||
| Commodities | |||||||
| Gold | $1,571.00 | $1,576.00 | |||||
| OIL | $93.62 | $93.50 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 82.89 | 82.63 | |||||
| OPEN | 82.69 | 82.66 | |||||
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