Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1080-1.1140
Today’s
expected range for the Canadian Dollar
against the Euro is 1.5360-1.5440
Today’s
expected range for the Canadian Dollar against Sterling is 1.8430-1.8500
The
US Dollar is marginally stronger this morning in very quiet overnight trading.
EURO.USD was a little lower as ECB Vice President Vitor Constancio said in a
speech that the market has not fully understood Governor Draghi’s comments on
the economy when they reported on interest rates last week. I have said this
many times that markets do not like uncertainty and comments like this will
only serve to hurt a currency. The Japanese Yen is unchanged as the Central
bank of Japan did not make any changes to its monetary policy, and in the UK
the Pound is lower on comments made by BOE officials about possible interest
rate hikes.
The
Canadian Dollar continues to weaken ever so slightly in quiet markets, trading at
the moment is very uninspiring and with the lack of economic activity until
later in the week, today may be another quiet day. I read an interesting article
that overall volatility in the currency markets has reached a low last seen in
December of 2012, I would guess that Canadian Dollar volatility is probably lower
than other currencies.
The
Canadian Government has today announced a free trade deal with Korea, I am not
sure what the benefit will be for Ontario but certainly the Food Industry across
Canada will be a big winner, if anyone needs a Korean Won price down the road just
ask, we cover that currency. The Loonie has not received any short-term benefit
from the announcement, it is being ignored by the currency market.
Up
today we get the US Wholesale trade report but unless we get a very big
surprise we should have another quiet day.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1119 | 1.1108 | |||||
| CAD/USD | 0.8993 | ||||||
| EUR/USD | 1.3842 | 1.3874 | |||||
| EUR/CAD | 1.5394 | 1.5411 | |||||
| STG/CAD | 1.8474 | 1.8500 | |||||
| AUD/CAD | 100.41 | 1.0043 | |||||
| CAD/JPY | 92.84 | 92.97 | |||||
| CAD/CHF | 0.7911 | 0.7904 | |||||
| CAD/HKD | 6.9594 | 6.9661 | |||||
| CAD/CNY | 5.5261 | ||||||
| CAD/MXN | 11.8945 | 11.8713 | |||||
| Commodities | |||||||
| Gold | $1,348.50 | $1,334.80 | |||||
| OIL | $101.45 | $101.30 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.92 | ||||||
| OPEN | 80.02 | 79.92 | |||||
| US 10YR YIELD | 2.78% | 2.79% | |||||
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