GFX Morning FX Commentary October 21st, 2013

Good Morning,

Today's expected range for the Canadian Dollar against the US Dollar is 1.0260-1.0330

Today's expected range for the Canadian Dollar against the Euro is 1.4050-1.4130

Today's expected range for the Canadian Dollar against Sterling is 1.6610-1.6700

The USs Dollar is mixed this morning in very quiet overnight trading conditions. The Dollar continues to lose ground against the Pound as a strong housing report out of the UK has pushed Sterling higher once again. The Dollar is stronger against the Japanese Yen as that countries volume of exports came in worse than expected creating speculation that the Bank of Japan will have to increase the amount of stimulus they are pouring into the economy.

The Canadian Dollar had a very quiet night against the USD with USD.CAD having one of its narrowest trading ranges in recent memory. As I speculated last week, USD.CAD continues to trade near the 1.0300 level and  the Loonie continues to lose ground against Sterling and Euro as those currencies continue to trade near recent highs.

Up today we get some Canadian Trade and US Housing data but I do not expect that to have much effect on USD.CAD trading today, tomorrow the delayed US Jobs report from September will be released so that may bring some life back into the FX markets.

Have a great week

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0293			1.0284
CAD/USD		0.9715			0.9724
EUR/USD		1.3676			1.37
EUR/CAD		1.4076			1.4094
STG/CAD		1.6639			1.6686
AUD/CAD		0.9949			0.9945
CAD/JPY		95.28			94.85
CAD/CHF		0.8772			0.8782
CAD/HKD		7.5287			7.5327
CAD/CNY		5.9194			5.9179
CAD/MXN		12.5272			12.432
Commodities
Gold		$1,315.00			$1,319.00
OIL		$99.96			$100.93
US DOLLAR INDEX
P.CLOSE		79.69			79.74
OPEN		79.76			79.66
US 10YR YIELD		2.59%			2.54%