Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1000-1.1080
Today’s
expected range for the Canadian Dollar against the Euro is 1.5075-1.5150
Today’s
expected range for the Canadian Dollar against Sterling is 1.8160-1.8230
The US Dollar is
marginally weaker this morning as the currency market gets ready for new
Federal Reserve Chairperson Janet Yellen’s first testimony to congress. I am
sure that lawmakers will be asking her about a US recovery that may be showing
signs for slowing.
Sterling is higher
this morning as it was pushed higher by a stronger than expected UK retail
sales report. Questions were beginning to arise about the strength of the UK
recovery so this helped alleviate those fears even if for a little while.
The Canadian Dollar traded
weaker during the overnight session but has managed to recover back to our
closing levels of yesterday, USD.CAD seems to have settled in to its new range
above 1.100 but below 1.1200 for the time being. Further short-term weakness in
the Loonie may be hindered by higher prices in oil and gold giving the Loonie a
bit of a boost.
Up today we get we get
some trade data out of the US but currency trading will be dominated by Yellen
speech. At 4:00 pm today we get the Canadian Budge where we are not expecting
any surprises, Flaherty will most likely announce that the budget surplus is
still on track for next year and he will announce a few infrastructure projects,
nothing that should affect the Canadian Dollar.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1054 | 1.1043 | |||||
| CAD/USD | 0.9046 | 0.9055 | |||||
| EUR/USD | 1.3662 | 1.3627 | |||||
| EUR/CAD | 1.5104 | 1.505 | |||||
| STG/CAD | 1.8164 | 1.8105 | |||||
| AUD/CAD | 0.9975 | 0.9857 | |||||
| CAD/JPY | 92.56 | 92.47 | |||||
| CAD/CHF | 0.8104 | 0.8122 | |||||
| CAD/HKD | 6.9951 | 7.0035 | |||||
| CAD/CNY | 5.48 | 5.4854 | |||||
| CAD/MXN | 12.0277 | 12.078 | |||||
| Commodities | |||||||
| Gold | $1,285.00 | $1,272.00 | |||||
| OIL | $100.35 | $99.52 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.63 | 80.68 | |||||
| OPEN | 80.55 | 80.69 | |||||
| US 10YR YIELD | 2.68% | 2.66% | |||||
No comments:
Post a Comment