Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1350-1.1420
Today’s
expected range for the Canadian Dollar against the Euro is 1.4030-1.4100
Today’s
expected range for the Canadian Dollar against Sterling is 1.7840-1.7910
The
US Dollar is marginally stronger this morning as weakness in Europe and Japan
continue to give the Greenback a boost. In Japan the Yen is the weakest it has
been in 7 years, in Australia the GDP there disappointed so the Aussie Dollar
crashed on the expectation that the Reserve Bank of Australia will now have to lower
interest rates. Sterling has been weaker all week against the US but did get a little
bit of a jump as UK service growth showed some better than expected growth,
clearly the strong US Dollar trend is intact.
The
Canadian Dollar is unchanged against the US this morning which means it is
doing a little better than its commodity cousins that all lost ground to the Greenback
overnight. As I mentioned yesterday the price of oil has started to stabilize
and is heading back towards $70, it is better to treat this market with extreme
caution as we have seen this week just how volatile it can be.
The
Canadian markets today will be dominated by the Bank of Canada announcement, we
are not expecting any great surprises on policy changes but I will look with
interest on their comments about inflation, I think that is where any
volatility will come from. As always I will send out a currency alert shortly
after the announcement.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1382 | 1.1355 | |||||
| CAD/USD | 0.8785 | 0.8807 | |||||
| EUR/USD | 1.2325 | 1.2441 | |||||
| EUR/CAD | 1.4028 | 1.4131 | |||||
| STG/CAD | 1.7825 | 1.7821 | |||||
| AUD/CAD | 0.9581 | 0.9601 | |||||
| CAD/JPY | 104.92 | 104.71 | |||||
| CAD/CHF | 0.8574 | 0.852 | |||||
| CAD/HKD | 6.7897 | 6.8078 | |||||
| CAD/CNY | 5.4005 | 5.4118 | |||||
| CAD/MXN | 12.4227 | 12.3362 | |||||
| Commodities | |||||||
| Gold | $1,200.00 | $1,196.00 | |||||
| OIL | $67.24 | $68.00 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 88.62 | 87.97 | |||||
| OPEN | 88.85 | 88.22 | |||||
| US 10YR YIELD | 2.29% | 2.23% | |||||
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