Today's expected range for the Canadian Dollar against the US Dollar is 1.0930-1.1050
Today's expected range
for the Canadian Dollar against the Euro is 1.4850-1.4950
Today's expected range
for the Canadian Dollar against Sterling is 1.8120-1.8220
The US Dollar is
marginally weaker this morning against most currencies but considerably weaker
against Sterling. In the UK the employment report game in much better than
expected at 7.1% which is the lowest level in years. You may remember that Bank
of England indicated that he would keep stimulus in place until the unemployment
rate fell to 7.0%. Given that we are now so close to that rate Sterling traders
will be watching the BOE to look for any signs that they will be reducing
interest rates or at the very least reducing their stimulus program.
The Australian Dollar
was also very busy as it had a fairly large rally on the back of an inflation report
that was higher than expected, this should provide interesting news for the
Bank of Canada as they are becoming increasingly concerned with the low level
of inflation in this country.
Welcome to the much
anticipated Bank of Canada announcement day. The Loonie had a quiet night as
traders await the announcement from Governor Poloz this morning at 10:00 am, we
are expecting interest rates to remain at 1.0% put think that he will hint at an
interest rate cut in the coming weeks. Our expectation is that USD.CAD will
move higher on such an announcement, if we are wrong and they indicate that the
economy is unfolding as they anticipated then the Loonie will have a big rally giving
US Dollar buyers a bit of a reprieve.
As always we will send
out a currency alert shortly after the 10:00 am announcement.
Have a great day.
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0957 | 1.1014 | |||||
| CAD/USD | 0.9126 | 0.9079 | |||||
| EUR/USD | 1.3557 | 1.352 | |||||
| EUR/CAD | 1.4857 | 1.4892 | |||||
| STG/CAD | 1.8139 | 1.807 | |||||
| AUD/CAD | 0.9722 | 0.9667 | |||||
| CAD/JPY | 95.18 | 94.98 | |||||
| CAD/CHF | 0.8305 | 0.8304 | |||||
| CAD/HKD | 7.0574 | 7.0204 | |||||
| CAD/CNY | 5.5174 | 5.4907 | |||||
| CAD/MXN | 12.1374 | 12.1133 | |||||
| Commodities | |||||||
| Gold | $1,241.00 | $1,245.00 | |||||
| OIL | $95.45 | $94.59 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.09 | 81.35 | |||||
| OPEN | 81.05 | 81.33 | |||||
| US 10YR YIELD | 2.85% | 2.85% | |||||
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