GFX Morning FX Commentary

Good Morning,

Today‘s expected range for the Canadian Dollar against the US Dollar is 1.2520-1.2590

Today’s expected range for the Canadian Dollar against the Euro is 1.4200-1.4270

Today’s expected range for the Canadian Dollar against Sterling is 1.8990-1.9060

The US Dollar is marginally stronger this morning as the world’s currency traders digest the news that the US Federal Reserve is still on pace to increase interest rates sometime this year. The Euro continues its limited rebound as it now trades above 1.1300, it is probably only a matter of time before the Euro gets hits again, it is such a financial mess in Europe at the moment. Sterling is a little weaker as the UK reported some slightly disappointing housing numbers but it did trade in a fairly tight overnight range.

Not much to say about the Canadian Dollar that we have not been saying all month, after the US Federal Reserve announcement the USD.CAD jumped again and in light overnight trading it continued to rise, things can change quickly but right now it looks like 1.3000 is certainly in the offing.

Nothing of note on the economic front, just some US housing data, markets will get set up for tomorrow US and Canadian GDP reports. Look for more of the same for the Loonie today, USD.CAD moving higher with only limited pullbacks.

Have a great day

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening			4pm close Wednesday
USD/CAD	1.2547				1.2425				1.2518
CAD/USD	0.797				0.8048				0.7988
EUR/USD	1.1323				1.1365				1.1281
EUR/CAD	1.4209				1.4125				1.4128
STG/CAD	1.8987				1.8886				1.8962
AUD/CAD	0.9769				0.9872				0.9896
CAD/JPY	93.91				94.78				93.7700
CAD/CHF	0.7302				0.725				0.7236
CAD/HKD	6.1568				6.2157				6.1699
CAD/CNY	4.9665				5.015				4.9820
CAD/MXN	11.8229				11.7935				11.7993
Commodities
Gold	$1,266.00				$1,291.00				$1,285.00
OIL	$44.28				$45.50				$44.50
US DOLLAR INDEX
OPEN	94.53				94.10				94.6
US 10YR YIELD	1.73%				1.81%				1.72%