Good afternoon,
Below are the current daily levels vs.
the other major currencies.
USD.CAD 1.0644 down 0.37%
GBP.CAD 1.7377 down 0.72%
EUR.CAD 1.4545 up 0.16%
The EURO rose to a five-week high against the its
rival currencies, as European Central Bank President Mario Draghi spoke with
the press, refraining from introducing further monetary stimulus.
The ECB kept
its interest-rate targets unchanged at 0.25% and gave no indication that policy
makers will introduce a negative deposit rate or further easing. Currently, the EURO is 0.53% up against the
US.
Data released this morning showed the U.S. GDP was revised
higher in the third quarter to a 3.6% annualized rate from a previous reading
of 2.8% hitting its fastest pace of growth since early 2012.
US Factory
Orders fell by 0.9% in October, compared with the 1.8% rise in September, the
US Census Bureau advised. This is almost in line with market consensus of -1%.
The Canadian
dollar has appreciated this morning against its major peers for the first time
in five days rising from a more than three-year low, amid speculation
employment growth may suggest stronger economic improvement than the Bank of Canada indicated. It was announced that
the Canadian building permits increased more than forecast in October. The CAD is currently up 0.38% against the US.
We may see
some more movement tomorrow with employment numbers being released in both
Canada and the United States.
Enjoy the
rest of the day!
The overnight expected range for the
Canadian dollar against the USD dollar 1.0600-1.0700
The overnight expected range for the
Canadian dollar against the Euro is 1.4500-1.4600
The overnight expected range for the
Canadian dollar against the Sterling is 1.7325-1.7425
Have a great day.
Barbara
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