Today's expected range
for the Canadian Dollar against the US Dollar is 1.0820-1.0870
Today's expected range
for the Canadian Dollar against the Euro is 1.4290-1.4340
Today's expected range
for the Canadian Dollar against Sterling is 1.7990-1.8040
The US Dollar is unchanged
for the most part this morning as it is marginally stronger against the Euro
and marginally weaker against Sterling. In the UK the Pound rose to trade at 1.3190
as the UK Consumer Confidence report showed a positive gain while in the
Euro-Zone the inflation report showed a declining rate of inflation which
should give ECB Governor Draghi room to announce stimulus measures at next
week's ECB meeting. The Euro still looks very vulnerable at the moment and we
could still yet see it hit the target of 1.3000 in the near future against the
US Dollar.
The Canadian Dollar
has settled into its new level, I would think that Burger King would be
finished with their activity so any movement in the market will again focus on
fundamentals. The Loonie had quite a run this week so it would not surprise me
to see a bit of a pullback but so far that has not materialized.
Up today trading will
be dominated by the Canadian GDP report for 2nd quarter, we are expecting a growth rate of 3.0%,
last quarter the growth rate was 2.3% so at least we are moving in the right
direction. In addition to the Canadian GDP we have a slew of US secondary data
including Personal Income and Consumer Sentiment, I think we will have a very
busy morning.
It is hard to believe
that summer is coming to a close, thanks again for all the support this summer
and have a great Labour day weekend.
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0843 | 1.0862 | |||||
| CAD/USD | 0.9206 | ||||||
| EUR/USD | 13,183 | 1.3173 | |||||
| EUR/CAD | 1.4297 | 1.4317 | |||||
| STG/CAD | 1.7992 | 1.8015 | |||||
| AUD/CAD | 1.0128 | 0.984 | |||||
| CAD/JPY | 95.86 | 95.46 | |||||
| CAD/CHF | 0.8432 | 0.8422 | |||||
| CAD/HKD | 7.1268 | 7.7301 | |||||
| CAD/CNY | 5.6648 | 5.6573 | |||||
| CAD/MXN | 12.0633 | 12.0555 | |||||
| Commodities | |||||||
| Gold | $1,285.80 | $1,294.50 | |||||
| OIL | $94.95 | $93.85 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 82.52 | 82.69 | |||||
| OPEN | 82.51 | 82.51 | |||||
| US 10YR YIELD | 2.34% | 2.33% | |||||
No comments:
Post a Comment