Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1370-1.1420
Today’s
expected range for the Canadian Dollar against the Euro is 1.4140-1.4190
Today’s
expected range for the Canadian Dollar against Sterling is 1.8050-1.8100
The
US Dollar is for the most part unchanged with the lone exception being the
Japanese Yen. In Japan the Yen fell to a seven year low against the Greenback
amongst speculation that Japanese Prime Minister Abe is considering postponing
a proposed planned sales-tax increase and calling a surprise election next
month. This move for they Yen caught the market off guard and pushed the Nikkei
to a seven-year high as it also reacts to added stimulus in the Japanese economy.
Overall
the US strong Dollar trend remains intact as yesterday the Greenback was able
to recover some of the losses from Friday’s disappointing Employment report, I would expect that this
trend will continue for some time yet.
The
Canadian Dollar was not able to extend its gains after the strong Employment
report on Friday as yesterday it gave back most of the gains against it had
made against the US, clearly the correct strategy for US Dollar buyers is to
keep buying on any US Dollar dips, they have been proven to be fleeting in
nature so buyers must take advantage when they happens, waiting for the Loonie to stage a big
recovery is not the correct strategy.
There
are no economic announcements today with
the holiday’s both in Canada and the United States so I am not expecting much
movement today, most banks will be at half-staff today so we should have a very
quiet day. As the week progresses the currency market will get set up for the
US Retail Sales release on Friday.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1387 | 1.1304 | |||||
| CAD/USD | 0.8781 | 0.8846 | |||||
| EUR/USD | 1.2414 | 1.2487 | |||||
| EUR/CAD | 1.4139 | 1.4117 | |||||
| STG/CAD | 1.8062 | 1.7987 | |||||
| AUD/CAD | 0.9826 | 0.979 | |||||
| CAD/JPY | 101.77 | 100.48 | |||||
| CAD/CHF | 0.85 | 0.8519 | |||||
| CAD/HKD | 6.7877 | 6.8382 | |||||
| CAD/CNY | 5.3766 | 5.411 | |||||
| CAD/MXN | 11.9818 | 11.9821 | |||||
| Commodities | |||||||
| Gold | $1,155.00 | $1,168.00 | |||||
| OIL | $77.17 | $79.66 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 87.81 | 87.63 | |||||
| OPEN | 87.91 | 87.31 | |||||
| US 10YR YIELD | 2.36% | 2.29% | |||||
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