Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0100-1.0170
Today’s
expected range for the Canadian Dollar against the Euro is 1.3120-1.3200
Today’s
expected range for the Canadian Dollar against Sterling is 1.5470-1.5550
The
US Dollar is stronger to start the day as the recent trend of a strong US
Dollar continues. The Euro is a little weaker as the German Business Survey
provided disappointing results, and the Pound has weakened for the fourth straight
day despite some positive housing news of the UK. There was also talk yesterday
from the Federal Reserve’s member Plosser that with inflation in check there is
room for the Fed to increase stimulus, a move which would provide more stimulus
to the Greenback. There is no evidence that this will happen any time soon but
it is interesting to see if this line of thinking is prevalent in the Fed.
The
Canadian Dollar is weaker on the back of the stronger US Dollar overnight, USD.CAD
has moved back above the 1.0100 level. The Loonie continues to trade in tight
ranges against the Greenback and as a result of that I am not expecting much
activity for the currency pair today.
With
little activity on the economic calendar look for the strong US Dollar trend to
continue today and we could see a test of 1.0160.
Have
a great day
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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1.0128
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1.0107
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CAD/USD
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0.9873
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0.9894
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EUR/USD
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1.2954
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1.2982
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EUR/CAD
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1.3121
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1.3124
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STG/CAD
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1.547
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1.5535
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AUD/CAD
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1.0041
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1.0078
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CAD/JPY
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100.4
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100.45
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CAD/CHF
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0.9454
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0.9457
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CAD/HKD
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7.643
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7.657
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CAD/CNY
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6.0623
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6.0794
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CAD/MXN
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12.0229
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11.9944
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Commodities
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Gold
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$1,427.00
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$1,427.00
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OIL
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$94.65
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$95.11
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US DOLLAR INDEX
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P.CLOSE
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83.35
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83.18
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OPEN
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83.42
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83.22
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