Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0250-1.0330
Today’s expected range for the Canadian Dollar against the Euro is 1.3850-1.3925
Today’s expected range for the Canadian Dollar against Sterling is 1.6420-1.6500
The
US Dollar as marginally stronger this morning in quiet overnight trading
conditions. The Dollar is a bit stronger on some of the contradicting comments
made yesterday by the different Federal Reserve committee members as they
answered questions on when the pullback in stimulus will start. There are another
two committee members speaking today so I look for more contradicting comments
that will bring some upset to the markets. I think this nervousness from
investors about the timing of any stimulus reduction is really weighing on the
markets, it is like a runner awaiting the gun at a big race. As soon as the Fed
announces stimulus reduction I think you will see the US Dollar take off, but
for the time being the markets are hanging on any “official” comments to try
and get the jump on when the taps will be turned off.
The
Canadian Dollar is unchanged from our close last night, it is surprising that
the Loonie did not give up any strength as both the Aussie and new Zealand Dollars
were quite weak, this leads me to think that the Loonie could be quite vulnerable
this morning. Up today we do get the Canadian Retail Sales report for July and
we are expecting an increase of 0.5%, If this number disappoints then you could
see the Loonie really weaken off with USD.CAD moving back towards 1.0325/.1.0350
level.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0294 | 1.03 | |||||
| CAD/USD | 0.9714 | 0.9708 | |||||
| EUR/USD | 1.3477 | 1.3508 | |||||
| EUR/CAD | 1.3877 | 1.3916 | |||||
| STG/CAD | 1.646 | 1.6528 | |||||
| AUD/CAD | 0.9664 | 0.9703 | |||||
| CAD/JPY | 95.96 | 96.24 | |||||
| CAD/CHF | 0.8857 | 0.8858 | |||||
| CAD/HKD | 7.525 | 7.5217 | |||||
| CAD/CNY | 5.9423 | 6.09 | |||||
| CAD/MXN | 12.5255 | 12.4948 | |||||
| Commodities | |||||||
| Gold | $1,316.00 | $1,322.00 | |||||
| OIL | $103.17 | $104.90 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.59 | 80.54 | |||||
| OPEN | 80.69 | 80.51 | |||||
| US 10YR YIELD | 2.69% | 2.75% | |||||
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