Today's expected range
for the Canadian Dollar against the US Dollar is 1.0840-1.0900
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 1.8170-1.8240
The US Dollar is
marginally stronger to start the new trading month as the currency markets get
set up for what should be a very busy week highlighted by the ECB decision on
Thursday on interest rates and stimulus. Trading ranges were narrow to start
the month with Sterling the most active as it dropped on poor housing data.
Sterling seems to be getting very vulnerable to any negative news, I think it
is because so many traders have been riding the strong push over the last 6
months that anytime there is bad news they all get nervous and start to sell
off their holdings. In Europe the Euro was slightly lower on poorer than
expected manufacturing data, the pressure is mounting for the ECB to do
something decisive this week.
The Canadian Dollar is
a bit weaker this morning as it could not extend its gains from Friday. It
should be a busy week for the Loonie highlighted by the Bank of Canada interest
rate announcement on Wednesday and the Unemployment report on Friday.
Up today we have the
US manufacturing data out of the US, I think the markets will be looking to see
if the recent trend of poor American data is set to continue this month, a poor
number may give USD.CAD the necessary push to drop towards 1.0800.
Have a great month
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0854 | 1.0827 | |||||
| CAD/USD | 0.9213 | 0.9236 | |||||
| EUR/USD | 1.3605 | 1.3608 | |||||
| EUR/CAD | 1.477 | 1.4735 | |||||
| STG/CAD | 1.8192 | 1.8118 | |||||
| AUD/CAD | 1.0049 | 1.0077 | |||||
| CAD/JPY | 93.93 | 93.87 | |||||
| CAD/CHF | 0.8267 | 0.8279 | |||||
| CAD/HKD | 7.1213 | 7.1398 | |||||
| CAD/CNY | 5.7533 | 5.7683 | |||||
| CAD/MXN | 11.8691 | 11.8927 | |||||
| Commodities | |||||||
| Gold | $1,246.00 | $1,253.00 | |||||
| OIL | $103.00 | $103.24 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.43 | 80.48 | |||||
| OPEN | 80.52 | 80.45 | |||||
| US 10YR YIELD | 2.49% | 2.47% | |||||
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