Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0240-1.0310
Today’s
expected range for the Canadian Dollar against the Euro is 1.3610-1.3680
Today’s
expected range for the Canadian Dollar against Sterling is 1.5710-1.5780
The
US Dollar is mixed this morning as it is marginally weaker against the Euro and
stronger against the Pound. In the UK, Sterling is again lower as investors are
betting that the Bank of England this week will favour increasing their stimulus
program when they announce their interest rate policy, more so than the
European Central bank will. This is a big week for Central Banks with the US
Federal Reserve, the European Central Bank and the Bank of England all reporting
their latest interest rate policies so we should see some fireworks in the
currency markets later this week.
In
other currency action over night the Reserve Bank of Australia Governor Stevens
stated that the Central Bank still has
more room to lower interest rates as inflation is not a concern at the moment.
AUD.USD was the big mover overnight as it dropped over 130 points to trade near
.9050. USD.JPY also dropped quite a bit as Industrial Production in Japan fell
the most it has in two years, so not all is good news coming out of Japan.
Nothing
to report on the Canadian Dollar, the recent trading range has narrowed to trade
between 1.0250 and 1.0300 and can’t seem to break either side, I think we will
get some movement later this week with the Central Bank announcements and the
US Employment report but for now the market will remain quiet.
Up
today we do get some secondary data out of the US economy including Consumer Confidence
for July but unless the numbers are dramatically different from expectation I don’t
think they will move the market. Look for USD.CAD to continue to range trade
today.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0273 | 1.0269 | |||||
| CAD/USD | 0.9734 | 0.9738 | |||||
| EUR/USD | 1.3269 | 1.329 | |||||
| EUR/CAD | 1.3629 | 1.3648 | |||||
| STG/CAD | 1.573 | 1.5802 | |||||
| AUD/CAD | 0.9317 | 0.9496 | |||||
| CAD/JPY | 95.39 | 95.15 | |||||
| CAD/CHF | 0.9051 | 0.9028 | |||||
| CAD/HKD | 7.5488 | 7.5545 | |||||
| CAD/CNY | 5.9693 | 5.9714 | |||||
| Commodities | |||||||
| Gold | $1,322.42 | $1,326.78 | |||||
| OIL | $103.81 | $104.40 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.8 | 81.77 | |||||
| OPEN | 81.85 | 81.63 | |||||
| US 10YR YIELD | 2.59% | 2.56% | |||||
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