Below are the current daily levels vs. the other major
currencies.
USD.CAD 1.0465up 0.35%
GBP.CAD 1.6871 up 0.45%
EUR.CAD 1.4171 up 0.61%
The Canadian dollar fell slightly versus most major currencies as
the nation’s largest export, crude oil, touched the lowest level in more than
five months. Crude oil has fallen a
little over .6 percent in NY.
The Euro has enjoyed gains in early trading following the
European Central Banks statement it would need to be “very careful” when
considering using negative interest rates to counter the issue of low
inflation.
October’s US retail sales figures are due out tomorrow morning,
with the expectation being that they will have increased on the previous month
when they experienced a decline. The positive figure could drive the US dollar
higher against the Canadian and will need to be monitored closely.
The overnight expected range for the Canadian dollar against the
USD dollar 1.0415-1.0500
The overnight expected range for the Canadian dollar against the
Euro is 1.4140-1.4221
The overnight expected range for the Canadian dollar against
Sterling is 1.6850-1.6921
Have a great afternoon,
Bethlehem Belte| GFX Partners Inc I Currency Advisor
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