Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0610-1.0680
Today’s
expected range for the Canadian Dollar against the Euro is 1.4710-1.4780
Today’s
expected range for the Canadian Dollar against Sterling is 1.7570-1.7640
The
US Dollar is weaker after the Christmas Holiday break, yesterday saw the US
economy report some strong employment data as the first time recipients of
unemployment benefits dropped more than expected, this number again pushed
American equity markets to a new record high and the US Dollar gave up some strength.
EURO.USD has jumped to its strongest level since October 2011, the Euro also
benefitted from Central Bank officials commenting that keeping EU interest rates
low may endanger the political reforms that have been achieved. USD.JPY rose to
trade at a new 5-year high as the strong news out of the US economy continue to
reduce the need for Japanese investors to send money home.
The
Canadian Dollar was not able to take advantage of the weak US Dollar over the
holiday and USD.CAD continues to trade around the 1.0650 level with the
continued expectation that the Loonie will continue to weaken over the coming
days. With no economic news out today and it being the first day back after the
Christmas holiday I would not expect much of a trading range but given that
most money center banks are at half-staff volatility may be a bit stronger
throughout the day. We will be watching to take advantage of any spikes in
either direction.
Have
a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0646 | 1.0613 | |||||
| CAD/USD | 0.9422 | ||||||
| EUR/USD | 1.3856 | 1.3669 | |||||
| EUR/CAD | 1.4748 | 1.4521 | |||||
| STG/CAD | 1.7606 | 1.7375 | |||||
| AUD/CAD | 0.9493 | 0.9469 | |||||
| CAD/JPY | 98.49 | 98.21 | |||||
| CAD/CHF | 0.8299 | 0.8427 | |||||
| CAD/HKD | 7.2638 | 7.2843 | |||||
| CAD/CNY | 5.6998 | 5.7192 | |||||
| CAD/MXN | 12.2297 | ||||||
| Commodities | |||||||
| Gold | $1,210.50 | $1,198.60 | |||||
| OIL | $99.58 | $99.17 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.59 | 80.59 | |||||
| OPEN | 79.97 | 80.66 | |||||
| US 10YR YIELD | 2.99% | 2.95% | |||||
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