Good Morning,
Today’s suggested range for
the Canadian dollar against the US Dollar is 1.1025 – 1.1100
Today’s suggested range for
the Canadian dollar against the Euro is 1.5100 – 1.5200
Today’s suggested range for
the Canadian dollar against Sterling is 1.8375 – 1.8500
The US Dollar is stronger
against most major currencies including the emerging markets with the lone
exception the Japanese Yen which is outperforming 26 major peers. The Japanese
Yen strength is mostly in reaction to Chinese manufacturing declining to a
seven month low as risk aversion claws back. Global stock markets are all lower
overnight as growth concerns resurface.
The British Pound declined
following the U.K. CBI industrial trends survey which rose to 3 in February
from -2 the previous month but much lower than the consensus of 5 forecasted.
The Euro didn’t fare much better dropping against the greenback after German
Purchasing Managers Index for manufacturing grew less than estimates.
The Canadian dollar held
steady overnight after a huge spike yesterday in USD/CAD. The demand was
fuelled by the Canadian acquisition for the natural gas properties of a U.S.
energy company in Canada for a reported $3.1b. It’s difficult to ascertain if
the market pre bought dollars for the M&A deal or the actual transaction
flows came to the market. In any event there still looks like there’s demand
for US dollars by the lack of pullback in the USD/CAD overnight. Today the
economic calendar in Canada is empty with U.S. CPI data the main release with
inflation expected to tick higher y/y to 1.6% from 1.5%. Also due out this
morning is U.S. jobless claims, Philly Fed and leading indicators. Tomorrow
Canada releases its inflation data which is expected to show a small uptick in
inflation. Should inflation remain benign further pressure on the currency will
ensue. Dow futures are pointing down by 44 with both oil and gold off
marginally.
| GFX
Morning Currency Rates |
|
| Thursday February
20, 2014 |
|
| Currencies |
7:00am Today's Opening |
|
Yesterday's Opening |
|
|
|
|
|
|
|
|
| USD/CAD |
|
1.1067 |
|
|
1.0928 |
|
|
| CAD/USD |
|
0.9035 |
|
|
0.915 |
|
|
| EUR/USD |
|
1.3692 |
|
|
1.3745 |
|
|
| EUR/CAD |
|
1.515 |
|
|
1.5037 |
|
|
| STG/CAD |
|
1.842 |
|
|
1.8223 |
|
|
| AUD/CAD |
|
0.9943 |
|
|
0.9879 |
|
|
| CAD/JPY |
|
92.13 |
|
|
93.18 |
|
|
| CAD/CHF |
|
0.8051 |
|
|
0.8118 |
|
|
| CAD/HKD |
|
6.9893 |
|
|
7.0678 |
|
|
| CAD/CNY |
|
5.4964 |
|
|
5.5568 |
|
|
| CAD/MXN |
|
12.0477 |
|
|
12.1309 |
|
|
| Commodities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gold |
|
$1,313.00 |
|
|
$1,318.00 |
|
|
| OIL |
|
$103.21 |
|
|
$102.95 |
|
|
|
|
|
|
|
|
|
|
| US
DOLLAR INDEX |
|
|
|
|
|
|
| P.CLOSE |
|
80.2 |
|
|
80 |
|
|
| OPEN |
|
80.3 |
|
|
80.02 |
|
|
|
|
|
|
|
|
|
|
| US 10YR YIELD |
|
2.72% |
|
|
2.68% |
|
|
|
|
|
|
|
|
|
|
Have a great day!
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