Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1250-1.1320
Today’s
expected range for the Canadian Dollar against the Euro is 1.4120-1.4170
Today’s
expected range for the Canadian Dollar against Sterling is 1.7660-1.7710
The
US Dollar is for the most part unchanged from last night Toronto close. The
Japanese Yen traded a bit stronger as Prime Minister Abe called for an election
to elect a new parliament and announced an 18-month delay on his proposed sales
tax increase. I guess he is looking for a renewed mandate before he announces
his latest stimulus measures. In the UK the Pound drops again as it fell to its
weakest level in a month against the Euro as inflation data was subdued, as
long as inflation remains low there is little chance of any interest rate hikes
in the UK.
A
very quiet night for the Canadian Dollar against the Greenback, it did trade a
little stronger during the overnight session but for the most part it is still
at the same level as we closed yesterday. USD.CAD seems to have settled in on
either side of the 1.1300 level for the time being as it awaits its next move,
US Dollar buyers want to hope that we hang around these levels for a while and
that the overall strong US Dollar trend starts to subside, if the trend does
slowdown then we could see USD.CAD pullback towards 1.1200 in the coming days,
if the trend does not lose steam then we should be heading back to 1.1400 at
some point.
Up
today we get some secondary US data including Producer Price Index which will
be a precursor to the inflation data later in the week. We should have a
relatively quiet day trading back and forth within current ranges.
Have
a great day.
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1282 | 1.1306 | |||||
| CAD/USD | 0.8864 | 0.8842 | |||||
| EUR/USD | 1.2513 | 1.2488 | |||||
| EUR/CAD | 1.4118 | 1.4126 | |||||
| STG/CAD | 1.7679 | 1.7691 | |||||
| AUD/CAD | 0.9883 | 0.987 | |||||
| CAD/JPY | 103.41 | 102.8 | |||||
| CAD/CHF | 0.8504 | 0.8501 | |||||
| CAD/HKD | 6.8503 | 6.8359 | |||||
| CAD/CNY | 5.4223 | 5.417 | |||||
| CAD/MXN | 12.0265 | 12.0144 | |||||
| Commodities | |||||||
| Gold | $1,200.00 | $1,187.00 | |||||
| OIL | $75.81 | $75.17 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 87.92 | 87.53 | |||||
| OPEN | 87.59 | 87.72 | |||||
| US 10YR YIELD | 2.33% | 2.30% | |||||
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