Today's expected range
for the Canadian Dollar against the US Dollar is 1.0700-1.0750
Today's expected range
for the Canadian Dollar against the Euro is 1.4600-1.4650
Today's expected range
for the Canadian Dollar against Sterling is 1.8230-1.8280
The US Dollar is mixed
this morning as it is stronger against the Pound but weaker against the Euro.
In the UK the interest rate hike game continues, this morning it was Bank of
England Governor Carney saying that wage data in the UK was soft, immediately currency
speculators took that to mean no immediate interest rate hikes so they sold off
the Pound. Markets in the UK are hanging on any words that BOE officials make,
it is really quite amusing. In Europe the Euro is higher against the Greenback
despite another poor business report, the Euro is clearly benefiting from the
weak US Dollar at the moment but given the current environment in Europe this can
only be a short-term trend.
The Canadian Dollar
had a quiet day yesterday and a quiet overnight session as it settled into its
new trading range. It did lose some ground to the Euro but gained a little against
Sterling as those currency pairs are once again trading in narrow bands.
With nothing of note
on the economic calendar I am not looking for a big range in USD.CAD today. I do
look for the inter-bank rate to test the 1.0700 level at some point, but we are
hearing that there is a lot of interest to buy US Dollars at the big banks so
the currency pair may find it difficult to break through.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0726 | 1.0732 | |||||
| CAD/USD | 0.9323 | 0.9318 | |||||
| EUR/USD | 1.3627 | 1.3582 | |||||
| EUR/CAD | 1.4611 | 1.4578 | |||||
| STG/CAD | 1.8233 | 1.8267 | |||||
| AUD/CAD | 1.0081 | 1.0134 | |||||
| CAD/JPY | 94.96 | 94.87 | |||||
| CAD/CHF | 0.8327 | 0.8344 | |||||
| CAD/HKD | 7.2057 | 7.201 | |||||
| CAD/CNY | 5.807 | 5.7984 | |||||
| CAD/MXN | 12.1632 | 12.1319 | |||||
| Commodities | |||||||
| Gold | $1,324.00 | $1,312.00 | |||||
| OIL | $106.25 | $107.00 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.34 | 80.42 | |||||
| OPEN | 80.22 | 80.37 | |||||
| US 10YR YIELD | 2.60% | 2.60% | |||||
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