Today's expected range
for the Canadian Dollar against the US Dollar is 1.1140-1.1200
Today's expected range
for the Canadian Dollar against the Euro is 1.4070-1.4130
Today's expected range
for the Canadian Dollar against Sterling is 1.7940-1.8000
The US dollar is
stronger this morning as it has had a quick recovery from its drop yesterday.
The big driver behind the stronger USD was German industrial Production last
month falling at its fastest pace since 2009, if the German economy falters so
goes the rest of Europe. Sterling was able to make some small gains notably
against the Euro as the UK manufacturing grew for the third month in a row, a
clear sign of the divergence of the economies in Europe and the UK.
In interest rate news
the Reserve Bank of Australia left its
key rate unchanged. Markets were a bit surprised as they were expecting a cut
in interest rates, if the Aussie Dollar jumps in value over the next little while
then you will see another round of interest rate cuts.
The Canadian Dollar
gave back most of its gains from yesterday as the strong US Dollar overnight pushed
USD.CAD higher. As long as this strong US Dollar trend remains intact I just
can't envision the Loonie having any sustained bouts of strength, markets still
favour US dollar sellers, US Dollar buyers need to be ready with their orders
anytime the rate drops.
Up today we have only
have the Canadian Building Permits report for August being released. This can
be a quite volatile number so we may get a surprise but overall I don’t expect
it to have too much effect on the currency, we should stay close to the
expected range for today.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1172 | 1.1215 | |||||
| CAD/USD | 0.8951 | 0.8916 | |||||
| EUR/USD | 1.259 | 1.2551 | |||||
| EUR/CAD | 1.4068 | 1.4079 | |||||
| STG/CAD | 1.7943 | 1.7928 | |||||
| AUD/CAD | 0.8779 | 0.9794 | |||||
| CAD/JPY | 97.22 | 97.46 | |||||
| CAD/CHF | 0.8603 | 0.8604 | |||||
| CAD/HKD | 6.9179 | 6.8948 | |||||
| CAD/CNY | 5.4945 | 5.4689 | |||||
| CAD/MXN | 12.0467 | 11.9585 | |||||
| Commodities | |||||||
| Gold | $1,204.00 | $1,195.00 | |||||
| OIL | $90.18 | $90.28 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 85.74 | 86.8 | |||||
| OPEN | 86.06 | 86.38 | |||||
| US 10YR YIELD | 2.42% | 2.43% | |||||
No comments:
Post a Comment