Today's expected range
for the Canadian Dollar against the US Dollar is 1.0870-1.0930
Today's expected range
for the Canadian Dollar against the Euro is 1.4920-1.4990
Today's expected range
for the Canadian Dollar against Sterling is 1.8340-1.8400
The US Dollar is
marginally stronger this morning as a report out of Germany showed that
investor confidence dropped last month, the Euro remains under constant pressure
from the Draghi comments last week where he basically announced that the ECB
will undertake a stimulus program next month. The German Bundesbank (Germany’s
Central Bank) also weighed in this morning that the timing was right for the ECB
to undertake a stimulus program.
The Canadian Dollar
had a very quiet 24 hour period, it spent most of yesterday trying to pull back
some strength and last night it actually weakened off a little with the overall
jump in the US Dollar helping to push it lower. USD.CAD continues to be
confined to tight trading ranges and at this stage we could see limited
movement could be in either direction.
Up today we get the
release of the US Retail Sales report for April, we are expecting an increase
of 0.4% after an increase of 1.2% in March, I would not expect much reaction from the
currency market unless we get a very poor number. Currency traders will be
watching the developments in the Ukraine where Russia still has 40,000 troops
on the border and tensions seem to be on the rise as both the disputed regions
voted to create two new autonomous regions and secede from Ukraine.
Have a great day
Mike
| Tuesday May 13, 2014 | |||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0905 | 1.0884 | |||||
| CAD/USD | 1.3711 | 0.9188 | |||||
| EUR/USD | 1.6829 | 1.3754 | |||||
| EUR/CAD | 0.9344 | 1.4974 | |||||
| STG/CAD | 0.8632 | 1.8383 | |||||
| AUD/CAD | 102.27 | 1.0204 | |||||
| CAD/JPY | 0.8899 | 93.64 | |||||
| CAD/CHF | 1.4953 | 0.8152 | |||||
| CAD/HKD | 1.8357 | 7.1167 | |||||
| CAD/CNY | 5.7093 | 5.7271 | |||||
| CAD/MXN | 11.8849 | 11.9108 | |||||
| Commodities | |||||||
| Gold | $1,292.00 | $1,295.00 | |||||
| OIL | $101.28 | $100.48 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.85 | 79.88 | |||||
| OPEN | 80.07 | 79.85 | |||||
| US 10YR YIELD | 2.64% | 2.64% | |||||
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