Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0830-1.0900
Today’s
expected range for the Canadian Dollar against the Euro is 1.4760-1.4820
Today’s
expected range for the Canadian Dollar against Sterling is 1.8220-1.8180
The
US Dollar is weaker this morning as both the Euro and Sterling and strong
overnight trading sessions. The Dollar is reacting to a decline in US interest
rates and comments From US Federal Reserve Chair Janet Yellen that the US economy
still needs help. The US Treasury yield has hit a one-year low rate of 2.42% so
clearly investors are expecting low interests rates to be the norm for some time
to come both in North America and Europe. The market is also punishing the
dollar on the expectation that today’s US GDP report will show GDP declined in the
last quarter.
The
Canadian Dollar had another quiet night as it continues to trade in very familiar
ranges but given the weak US dollar I would not be surprised if USD.CAD moved
to the downside this morning, I don’t expect a huge move but certainly the
currency pair could test the previous lows of earlier this week.
As
mentioned, trading today will be dominated by the US GDP report for the 1st Quarter, we are expecting a decline
in GDP of 0.5% after an increase of 0.1% the previous quarter. At -0.5% in
itself is a disappointing number but anything worse than that should push USD.CAD
lower, if the number is quite strong then we will see USD.CAD push back towards
1.0900
If we
do see a lot of movement then I will send out a currency alert.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0857 | 1.0853 | |||||
| CAD/USD | 0.921 | 0.9214 | |||||
| EUR/USD | 1.3618 | 1.362 | |||||
| EUR/CAD | 1.4788 | 1.4765 | |||||
| STG/CAD | 1.8158 | 1.8189 | |||||
| AUD/CAD | 1.0098 | 1.0028 | |||||
| CAD/JPY | 93.48 | 93.87 | |||||
| CAD/CHF | 0.8254 | 0.8268 | |||||
| CAD/HKD | 7.1191 | 7.1378 | |||||
| CAD/CNY | 5.7455 | 5.7607 | |||||
| CAD/MXN | 11.8672 | 11.8841 | |||||
| Commodities | |||||||
| Gold | $1,253.00 | $1,265.00 | |||||
| OIL | $102.88 | $104.21 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.56 | 80.36 | |||||
| OPEN | 80.42 | 80.44 | |||||
| US 10YR YIELD | 2.42% | 2.50% | |||||
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