Today's expected range
for the Canadian Dollar against the US Dollar is 1.1075-1.1150
Today's expected range
for the Canadian Dollar against the Euro is 1.4140-1.4220
Today's expected range
for the Canadian Dollar against Sterling is 1.8100-1.8180
The US Dollar is for
the most part unchanged this morning as the currency markets get set for this
morning's US report on the economy, the US Dollar will close out the week
making its 11th straight week of gains against the broader market,
there is no denying the strength of the US Dollar at the moment. The Greenback
did hit a 6-year high against the Japanese Yen as expectations of more economic
stimulus in Japan keep pushing the Yen lower.
USD.CAD did push
higher throughout the night but the Loonie recovered back to where we closed
last night, the currency pair should remain quiet ahead of this morning’s GDP report
but after that it could get quite volatile again.
Up today as mentioned
we have the release of the 2nd Quarter US GDP report alongside some secondary
data including US Consumer Sentiment. For the GDP report we are expecting a
growth rate of 4.6% on an annualized basis (last was 4.2%) which is in line
with other strong reports coming out of the US. A very strong report should
give USD.CAD the impetus to get a decisive break above the 1.1100 level, a poor
report will push USD.CAD back lower and continue recent range trading. Given
the strong data out of the US lately we favour the report being a strong one.
Have a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1094 | 1.1112 | |||||
| CAD/USD | 0.9014 | 0.8999 | |||||
| EUR/USD | 1.2743 | 1.2722 | |||||
| EUR/CAD | 1.414 | 1.4134 | |||||
| STG/CAD | 1.8109 | 1.8116 | |||||
| AUD/CAD | 0.9759 | 0.9743 | |||||
| CAD/JPY | 98.22 | 98.26 | |||||
| CAD/CHF | 0.8543 | 0.854 | |||||
| CAD/HKD | 6.9705 | 6.9561 | |||||
| CAD/CNY | 5.5227 | 5.5204 | |||||
| CAD/MXN | 12.0677 | 12.006 | |||||
| Commodities | |||||||
| Gold | $1,224.00 | $1,210.00 | |||||
| OIL | $92.97 | $92.82 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 85.21 | 85.04 | |||||
| OPEN | 85.23 | 85.4 | |||||
| US 10YR YIELD | 2.50% | 2.55% | |||||
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