Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0850-1.0920
Today’s
expected range for the Canadian Dollar against the Euro is 1.4950-1.5020
Today’s
expected range for the Canadian Dollar against Sterling is 1.8360-1.8430
The
US Dollar is marginally weaker in narrow overnight trading ranges this morning.
With very little economic activity overnight the Greenback was dragged lower by
Sterling which again was the strongest of the major currencies, strong economic
numbers and the expectation that the Bank of England will be the first major
western currency to increase interest rates keep pushing the Pound higher. On
the other hand both Citibank and UBS came out this morning and said that the
Euro will trade weaker in the coming weeks as the European Central Bank will
increase stimulus measures.
The
Canadian Dollar is unchanged from the Friday close, it was not able to recover
any of the losses from the very poor Canadian Employment report on Friday but
on the positive side it has not weakened any further than the Friday high for
USD.CAD. If the Loonie can recover today then it is safe to say that investors
think there is some upside to the Canadian Dollar and we could see a move back
towards 1.0800. I am surprised that USD.CAD is not higher as the employment
report was just dismal, it paints a very poor picture of the Canadian economy.
A
vey quiet day today (and this week) on the economic front so I am not expecting
much of a trading range, USD.CAD should be quiet and will take it direction
from the movement in the Euro. Buyers of EURO.CAD should like these levels but
if Euro does trade weaker over the week then EURO.CAD should come in a bit
lower.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0884 | 1.0819 | |||||
| CAD/USD | 0.9188 | 0.9243 | |||||
| EUR/USD | 1.3754 | 1.381 | |||||
| EUR/CAD | 1.4974 | 1.4944 | |||||
| STG/CAD | 1.8383 | 1.8289 | |||||
| AUD/CAD | 1.0204 | 1.0138 | |||||
| CAD/JPY | 93.64 | 93.94 | |||||
| CAD/CHF | 0.8152 | 0.8154 | |||||
| CAD/HKD | 7.1167 | 7.159 | |||||
| CAD/CNY | 5.7271 | 5.7529 | |||||
| CAD/MXN | 11.9108 | 12.0033 | |||||
| Commodities | |||||||
| Gold | $1,295.00 | $1,289.00 | |||||
| OIL | $100.48 | $100.71 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.88 | 79.37 | |||||
| OPEN | 79.85 | 79.57 | |||||
| US 10YR YIELD | 2.64% | 2.61% | |||||
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