Today's
expected range for the Canadian Dollar against the US Dollar is 1.0040-1.0175
Today's
expected range for the Canadian Dollar against the Euro is 1.3070-1.3170
Today's expected range for the Canadian Dollar against Sterling is 1.5500-1.5600
The
US dollar is stronger to start the day as the overnight currency markets were dominated
by Japanese Yen trading, once again the Yen is trading muck weaker as the
polices of that country to weaken their currency continue to have the desired
effect. USD.JPY broke above 100.00 for the first time in over 4 years and it
now looks like it wants to go higher possibly towards 105.00. Look for this
currency to continue to pull the US Dollar higher across the board.
In
Europe, the Euro and Sterling are both trading weaker with EURO.USD down below
1.3000 and GBP.USD trading below 1.5400, this all on the back of the strong US
Dollar overnight.
The
Canadian Dollar is weaker to start the day on the strong US Dollar and
speculative positions were squared up ahead of the employment report this
morning. We are expecting 15k new jobs to have been created last month with no
change to the employment report at 7.2%, after last month’s dismal report any
gain will certainly look good. Given that the economists can't get their
predictions right if we see a strong number then USD.CAD will fall towards
parity and if it is weak then we push back above the 1.0200 level. I am
expecting lots of volatility today so make sure your orders are in, when you
consider how far the Aussie and New Zealand dollars have fallen over the past
few weeks the Canadian Dollar is actually doing quite well but if the employment
number is very bad the Loonie might play catch up with these other currencies.
Have
a great weekend
Mike|
GFX Morning Currency Rates
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Currencies
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7:00am Today's Opening
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Yesterday's Opening
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USD/CAD
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1.0069
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1.002
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CAD/USD
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0.9931
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0.998
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EUR/USD
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1.3002
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1.3153
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EUR/CAD
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1.3095
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1.3182
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STG/CAD
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1.5503
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1.5605
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AUD/CAD
|
1.0101
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1.0252
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CAD/JPY
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100.67
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98.47
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CAD/CHF
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0.9487
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0.9322
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CAD/HKD
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7.6849
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7.7271
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CAD/CNY
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6.0959
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6.1156
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CAD/MXN
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11.9579
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11.9455
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Commodities
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Gold
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$1,443.00
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$1,469.00
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OIL
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$95.73
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$96.28
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US DOLLAR INDEX
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P.CLOSE
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82.78
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81.98
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OPEN
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83.11
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81.96
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