Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1160-1.1230
Today’s expected range for the Canadian Dollar
against the Euro is 1.4070-1.4230
Today’s
expected range for the Canadian Dollar against Sterling is 1.7900-1.7970
The
US Dollar is mixed this morning in very quiet overnight trading conditions, It is a little weaker against Sterling and a bit
stronger against the Euro and Yen. After jumping higher yesterday after what is
being perceived as an overly cautious statement by the Federal reserve the US
Dollar took a bit of a pause last night as the currency markets now await the US
GDP report this morning to confirm that maybe investors expecting an increase
in interest rates in the first quarter of 2015 were a bit premature in their thinking.
The Euro is still under pressure as the inflation rate is expected to come in
under the levels that the ECB was expecting, continued deflation seems to be a
real problem for the Euro-Zone economy.
The
Canadian Dollar is unchanged this morning but that is after it weakened off
considerably on the US Federal Reserve announcement. Once again any underlying strength
that the Loonie picks up is quickly diminished by one factor or another and the
strong US Dollar trend. I still favour a weaker Canadian Dollar and any US
Dollar buyers need to have their orders in to pick up some us on any short-term
Canadian Dollar strength.
As
mentioned today trading will be dominated by the US 3rd Quarter GDP
report, we are expecting a growth rate of 3.1% on an annualized basis, that would
be down from the previous reading 4.6% so a significant drop. If the US gets a strong number above
expectation then we should see USD.CAD jump higher and we could retest the
1.1300 levels.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1193 | 1.116 | |||||
| CAD/USD | 0.8934 | 0.8961 | |||||
| EUR/USD | 1.2591 | 1.2733 | |||||
| EUR/CAD | 1.4098 | 1.421 | |||||
| STG/CAD | 1.7913 | 1.7987 | |||||
| AUD/CAD | 0.9841 | 0.9906 | |||||
| CAD/JPY | 97.31 | 96.84 | |||||
| CAD/CHF | 0.8598 | 0.8482 | |||||
| CAD/HKD | 6.9092 | 6.9281 | |||||
| CAD/CNY | 5.4606 | 5.4737 | |||||
| CAD/MXN | 12.065 | 12.069 | |||||
| Commodities | |||||||
| Gold | $1,205.00 | $1,228.00 | |||||
| OIL | $81.34 | $82.21 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 86.01 | 85.39 | |||||
| OPEN | 85.25 | 85.41 | |||||
| US 10YR YIELD | 2.31% | 2.29% | |||||
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