Today's expected range
for the Canadian Dollar against the US Dollar is 1.1060-1.1140
Today's expected range
for the Canadian Dollar against the Euro is 1.4930-1.5000
Today's expected range
for the Canadian Dollar against Sterling is 1.8080-1.8150
The US Dollar is mixed this morning as it is higher against Sterling but lower against the Euro. In the UK the Pound which had been on a great run as of late slid for the 5th straight day on poor manufacturing data, while in Europe just the opposite happened. The Euro is higher as the Industrial Production report came in above economists’ predictions.
The Canadian Dollar is
stronger this morning as it has been able to hold onto its gains from Friday
where the rumours of a Keystone deal being finalized pushed the Loonie higher.
In fact it was just an environmental report that came out in Canada's favour,
the final Keystone decision by Obama is still months away.
I would greatly
caution US Dollar buyers to be ready to take advantage of this move, we have
not seen much of a recovery in the Loonie as of late and if we are correct and
the trend is still for more Canadian Dollar weakness then this is a great
buying opportunity, we would recommend buying a small portion of your exposure
at these levels and then wait and see if the pullback has any more legs.
Up today we get some
secondary data out of both Canada and the US, we would expect that the Loonie to
trade in a tight range and we can see if this recovery has any more substance to
it.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1068 | 1.1194 | |||||
| CAD/USD | 0.9035 | 0.8933 | |||||
| EUR/USD | 1.3502 | 1.355 | |||||
| EUR/CAD | 1.4951 | 1.5169 | |||||
| STG/CAD | 1.8086 | 1.8427 | |||||
| AUD/CAD | 0.974 | 0.9758 | |||||
| CAD/JPY | 91.97 | 91.29 | |||||
| CAD/CHF | 0.8166 | 0.8058 | |||||
| CAD/HKD | 6.9901 | 6.9139 | |||||
| CAD/CNY | 5.4723 | 5.4123 | |||||
| CAD/MXN | 12.039 | 12.0262 | |||||
| Commodities | |||||||
| Gold | $1,244.00 | $1,248.00 | |||||
| OIL | $97.49 | $97.79 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.26 | 80.98 | |||||
| OPEN | 81.19 | 81.05 | |||||
| US 10YR YIELD | 2.66% | 2.66% | |||||
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