Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0480-1.0560
Today’s expected range for the Canadian Dollar against the Euro is 1.3910-1.3980
Today’s expected range for the Canadian Dollar against Sterling is 1.6300-1.6380
The
US Dollar is unchanged from yesterday’s close in very quiet trading conditions.
I think the vote by the British Parliament not to join the attacks against Syria
have put financial markets as they wait to see what will happen next, everything
I read seems to indicate that the US will go it alone but that is far from
certain. After the vote the price of oil (which had been on strong run) fell back
a bit and the emerging market currencies that had been getting creamed pulled
back some strength.
The Canadian Dollar looks like it has settled into a new range around the 1.0500 level, with the emphasis I think still on the US Dollar going higher over the medium term but for now USD.CAD should be contained in narrow ranges. Up today we do get the Canadian 2nd Quarter GDP report where we are expecting an annualized growth rate of 1.6% which will pale in comparison to the 2.5% growth rate that was reported in the US yesterday. The Canadian number is most likely being influenced by the Calgary Floods as it was rumored that the floods could take 0.5% out of our GDP. A very poor Canadian number could easily push USD.CAD back up towards the 1.0500 level. Anything around expectation should leave the markets where they are and with North American markets in long-weekend mode the afternoon should be very quiet.
Have
a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.053 | 1.0502 | |||||
| CAD/USD | 0.9497 | 0.9522 | |||||
| EUR/USD | 1.3237 | 1.342 | |||||
| EUR/CAD | 1.3941 | 1.392 | |||||
| STG/CAD | 1.631 | 1.6285 | |||||
| AUD/CAD | 0.94 | 0.9381 | |||||
| CAD/JPY | 93.23 | 93.42 | |||||
| CAD/CHF | 0.8831 | 0.8842 | |||||
| CAD/HKD | 7.3598 | 7.3786 | |||||
| CAD/CNY | 5.8122 | 5.825 | |||||
| CAD/MXN | 12.6964 | ||||||
| Commodities | |||||||
| Gold | $1,395.00 | $1,412.00 | |||||
| OIL | $107.77 | $109.53 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 82.01 | 81.44 | |||||
| OPEN | 82.03 | 81.9 | |||||
| US 10YR YIELD | 2.75% | 2.78% | |||||
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