Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1850-1.1920
Today’s
expected range for the Canadian Dollar against the Euro is 1.4020-1.4090
Today’s expected range for the Canadian Dollar against Sterling is 1.8000-1.8070
The
US Dollar is stronger to start the new trading week as the Greenback continues
to push ahead on the strength of Friday’s positive Employment report. The US
Dollar is particularly strong against
the Euro and Sterling, The Euro continues to weaken on the prospect of future
stimulus packages from the ECB and the Pound is weaker as projected lower inflation
data keeps the Bank of England from raising interest rates.
The
Canadian Dollar is weaker this morning as USD.CAD approaches levels not seen
since 2009, at the moment it looks like the US Dollar will continue to get
stronger as there is nothing coming from Canada that will change the current momentum.
The Canadian employment report showed small job losses last month but the good
news is that more full-time positions were created offset by a drop in
part-time positions, to me a very neutral report which has not given any
benefit to the Loonie.
Up
this week we have the actual UK inflation data tomorrow and then the US Retail
Sales report on Wednesday followed by inflation data on Friday, there is no
Canadian economic data of note this week.
It should
be more of the same this week with USD.CAD testing above 1.1900 at some point,
there is no relief for US Dollar buyers in sight at the moment, US Dollar
sellers need to continue to keep locking in these rates with forward contracts
to protect themselves against an eventual pullback.
Have
a great week
Mike
GFX
Morning Currency Rates
|
||||||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | 4pm close January 09, 2015 | |||||||
| USD/CAD | 1.1877 | 1.1821 | 1.186 | |||||||
| CAD/USD | 0.842 | 0.8459 | 0.8431 | |||||||
| EUR/USD | 1.1801 | 1.1814 | 1.1841 | |||||||
| EUR/CAD | 1.4016 | 1.3973 | 1.4045 | |||||||
| STG/CAD | 1.7976 | 1.7925 | 1.7988 | |||||||
| AUD/CAD | 0.97 | 0.9629 | 0.9733 | |||||||
| CAD/JPY | 100.37 | 100.81 | 99.89 | |||||||
| CAD/CHF | 0.8566 | 0.8591 | 0.8544 | |||||||
| CAD/HKD | 6.5074 | 6.5764 | 6.516 | |||||||
| CAD/CNY | 5.2221 | 5.559 | 5.235 | |||||||
| CAD/MXN | 12.3369 | 12.4222 | 12.329 | |||||||
| Commodities | ||||||||||
| Gold | $1,220 | $1,212 | $1,220.00 | |||||||
| OIL | $47.27 | $48.50 | $48.25 | |||||||
| US DOLLAR INDEX | ||||||||||
| OPEN | 92.24 | 92.1 | 91.93 | |||||||
| US 10YR YIELD | 1.97% | 2.00% | 1.97% | |||||||
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