Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0300-1.0370
Today’s
expected range for the Canadian Dollar against the Euro is 1.3690-1.3760
Today’s
expected range for the Canadian Dollar against Sterling is 1.6290-1.6370
The
US Dollar is marginally weaker this morning in mostly quiet overnight trading ranges
as Sterling was the only real mover. This morning GBP.USD rose to trade at a
7-month high as the UK employment report was much better than expected, with the
Bank of England tying any interest hikes to a reduction in unemployment to 7%, markets
are reacting to any improvement in the UK employment picture. The current UK unemployment
rate is 7.8% so it still has a way to go
but investors seem to like everything there are seeing out of the UK at the
moment.
Financial
markets seem to very neutral on Obama’s Syrian speech last night, there does
not appear to be any appetite from Congress or the American people for military
intervention so it looks like Putin has done Obama a huge favour with his
proposal to put the chemical weapons under international control. I would not believe
for a second that Syria will turnover all their chemical weapons to Russia so
it will be interesting to see if Obama keeps the pressure on.
The
Canadian Dollar had a very quiet overnight trading range as it looks to settle
in around the 1.0350 trading level. With Syria now on the back burner for the
time being there is not much on the horizon that will get the currency moving,
we get more economic information later in the week but with only US Wholesale
trade due out today I think we will have a subdued trading range.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0334 | 1.0355 | |||||
| CAD/USD | 0.9677 | 0.9657 | |||||
| EUR/USD | 1.3254 | 1.3244 | |||||
| EUR/CAD | 1.3702 | 1.3717 | |||||
| STG/CAD | 1.63 | 1.6259 | |||||
| AUD/CAD | 0.9615 | 0.9616 | |||||
| CAD/JPY | 96.98 | 96.66 | |||||
| CAD/CHF | 0.9037 | 0.9024 | |||||
| CAD/HKD | 7.5021 | 7.4827 | |||||
| CAD/CNY | 5.9198 | 5.9078 | |||||
| CAD/MXN | 12.6281 | 12.6656 | |||||
| Commodities | |||||||
| Gold | $1,363 | $1,372.00 | |||||
| OIL | $107.67 | $108.65 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.82 | ||||||
| OPEN | 81.81 | 81.92 | |||||
| US 10YR YIELD | 2.94% | 2.89% | |||||
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