Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0280-1.0350
Today’s
expected range for the Canadian Dollar against the Euro is 1.3700-1.3770
Today’s
expected range for the Canadian Dollar against Sterling is 1.6310-1.6370.
The US Dollar is for the most part unchanged against most currencies after what looks to be a very quiet overnight session. The Euro is slightly weaker against the Greenback as the EU Industrial Report came in a little weaker than expected, EURO.USD dropped to trade below 1.3300 for the first time in a few days. The other currency that moved a little was the Japanese Yen, it traded stronger for the 2nd day as machinery orders were poorer than expected and a new sales tax is expected to slow economic growth. It seems funny but whenever Japan produces negative economic news the Yen actually gets stronger, this is generally because the Yen like the US Dollar is considered a safe-haven currency and when bad news is reported money that Japanese investors have invested overseas starts flowing back into the country to protect it from devaluing.
The
Canadian Dollar had a very quiet session
last night but did manage to hold onto its strength from yesterday afternoon,
if this trend continues we should see a test of 1.0300 at some point. With only
secondary economic data today I would again not expect much of a trading range,
this has been a great run for the Canadian
Dollar and given that a turnaround can happen very quickly I still think US
Dollar buyers should be looking at these levels to buy some US on a forward basis.
I
will be out of the office today but Randy will be here if you need anything.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0322 | 1.0334 | |||||
| CAD/USD | 0.9688 | 0.9677 | |||||
| EUR/USD | 1.3294 | 1.3254 | |||||
| EUR/CAD | 1.3724 | 1.3702 | |||||
| STG/CAD | 1.6328 | 1.63 | |||||
| AUD/CAD | 0.9546 | 0.9615 | |||||
| CAD/JPY | 96.24 | 96.98 | |||||
| CAD/CHF | 0.9011 | 0.9032 | |||||
| CAD/HKD | 7.5058 | 7.5021 | |||||
| CAD/CNY | 5.9283 | 5.9198 | |||||
| CAD/MXN | 12.701 | 12.6656 | |||||
| Commodities | |||||||
| Gold | $1,342.00 | $1,363.00 | |||||
| OIL | $108.51 | $107.67 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.71 | 81.82 | |||||
| OPEN | 81.72 | 81.81 | |||||
| US 10YR YIELD | 2.91% | 2.94% | |||||
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