GFX Morning FX Commentary

Good Morning,

Today's expected range for the Canadian Dollar against the US Dollar is 1.0990-1.1050

Today's expected range for the Canadian Dollar against the Euro is 1.5250-1.5320

Today's expected range for the Canadian Dollar against Sterling is 1.8540-1.8600

‎The US Dollar is marginally weaker this morning in quiet market conditions. The Greenback continues to trade weaker against the British Pound as strong M&A activity is helping the Pound garner some short-term strength, the UK economy is expected to post the strongest 1st quarter GDP numbers in over 5 years later this week so the strength in the Pound should continue.

Nothing new to report on the Canadian Dollar, it opens right where we left it on Friday and it looks set for another quiet trading day. We could have a very busy week with the US reporting on their interest rate policy on Wednesday and employment report on Friday. Ahead of those reports USD.CAD should continue to trade in tight ranges but we still favour a test of the 1.1050 level.

Have a great week

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.102			1.1023
CAD/USD		0.9074			0.9079
EUR/USD		1.3869			1.3835
EUR/CAD		1.5288			1.5255
STG/CAD		1.8569			1.854
AUD/CAD		1.023			1.0236
CAD/JPY		92.79			92.58
CAD/CHF		0.7962			0.7991
CAD/HKD		7.0294			7.0271
CAD/CNY		5.6685			5.6703
CAD/MXN		11.901			11.9
Commodities
Gold		$1,301.00			$1,297.00
OIL		$101.32			$101.45
US DOLLAR INDEX
P.CLOSE		79.76			79.79
OPEN		79.58			79.7
US 10YR YIELD		2.68%			2.67%