Good afternoon,
Below are the current daily levels vs. the other major
currencies.
USD.CAD 1.0382 down 0.15%
GBP.CAD 1.6554 down 0.31%
EUR.CAD 1.4078 up 0.13%
Statistics released today have shown that the Canadian
unemployment rate unexpectedly fell by 0.2 to 6.9% in September. In addition to
this, it was announced that 11,900 jobs have been added to the economy. This
beat analysts’ predictions of 10,000. The news has seen the Canadian dollar
creep slightly higher against the USD dollar as a result.
The euro and Greenback have gained ground against the
British pound following a report indicating that construction output in the UK
had declined in August. The figure announced showed a decline of 0.1% rather
than a gain of 0.8% as had been expected. The pound had rallied slightly
against the dollar prior to the announcement before sliding back following the
disappointing construction figures.
The yen has depreciated against most major currencies on the
back of speculation that the end of the US Government Shutdown is near. The
fact that investor appear to be withdrawing funds from Japan which is seen as a
traditional safe haven shows that investors are confident that a deal may be
close.
The overnight expected range for the Canadian dollar against
the US dollar is 1.0320-1.0480
The overnight expected range for the Canadian dollar against
the euro is 1.40-1.4150
The overnight expected range for the Canadian dollar against
the pound is 1.650-1.6680
Enjoy your afternoon,
Gavin
Gavin McAvoy | GFX
Partners Inc |Currency Advisor
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