Today's expected range
for the Canadian Dollar against the US Dollar is 1.1190-1.1250
Today's expected range
for the Canadian Dollar against the Euro is 1.4090-1.4150
Today's expected range
for the Canadian Dollar against the Euro is 1.7930-1.7990
The US Dollar is
marginally weaker this morning in spite of a poor German Factory report that
showed orders fell the most last month since 2009. It looks like currency
traders woke up on Monday morning and decided that the US Dollar strength may
have been a bit too much too soon and pushed it back a little. I still think
the strong US Dollar trend is still intact as we saw after the very strong US
employment report on Friday but we may see a period of range trading at the
moment to give the markets time to consolidate
before the next move.
The Canadian Dollar
was able to pull back a little bit on the weaker US Dollar overnight but it is
still trading near its recent highs and most market pundits are still calling
for USD.CAD to be higher by the end of the year.
Activity this week
will be highlighted by the Canadian Employment report for September on Friday
but ahead of that we have the minutes from the last Federal Reserve meeting on
Wednesday, US Wholesale Trade and the Bank
of England Policy announcement on Thursday and the Bank of Canada Business
Outlook Survey on Friday after the Employment report. Not an overly busy week
when it comes to releases but it will be highlighted by the Employment report.
Up today there is only
the Canadian Ivey Purchasing Managers Index
on the North American calendar so we will most likely range trade ahead of that
release, it looks like the Loonie will
do a little better to start the week so US Dollar buyers need to be ready with orders
close to the market to take advantage of any pullback.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1215 | 1.1178 | |||||
| CAD/USD | 0.8916 | 0.8946 | |||||
| EUR/USD | 1.2551 | 1.2616 | |||||
| EUR/CAD | 1.4079 | 1.4105 | |||||
| STG/CAD | 1.7928 | 1.7966 | |||||
| AUD/CAD | 0.9794 | 0.9778 | |||||
| CAD/JPY | 97.46 | 97.44 | |||||
| CAD/CHF | 0.8604 | 0.8568 | |||||
| CAD/HKD | 6.8948 | 6.9197 | |||||
| CAD/CNY | 5.4689 | 5.485 | |||||
| CAD/MXN | 11.9585 | 12.0138 | |||||
| Commodities | |||||||
| Gold | $1,195.00 | $1,207.00 | |||||
| OIL | $90.28 | $90.79 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 86.8 | 85.65 | |||||
| OPEN | 86.38 | 85.98 | |||||
| US 10YR YIELD | 2.43% | 2.44% | |||||
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