Today’s
expected range for the Canadian Dollar against the US Dollar is 1.2525-1.2600
Today’s
expected range for the Canadian Dollar against the Euro is 1.4230-1.4300
Today’s
expected range for the Canadian Dollar against Sterling is 1.9270-1.9340
The
US Dollar is marginally weaker this morning falling the most against the
British Pound. GBP.USD jumped from 1.5250 to 1.5360 on the UK inflation report that
showed while inflation looks set to fall it is unlikely that any deflation will
set in. The Euro also received a bit of a boost from the ceasefire that was
agreed upon in Ukraine, but as we have seen in the past that situation is
hardly resolved and it will continue to weigh on both the Euro and Russian
Ruble. The Euro should also trade weaker until we see how the Greek debt talks
unfold over the next few days, the Greek loan package is set to expire at the
end of February so something will need to give before then.
The
Canadian Dollar has a strong rally overnight, with oil trading back above $50
dollars a barrel it was able to gain back some strength. With the thought that
the Bank of Canada will cut interest rates again and the uncertainty in the price
of oil US Dollar buyers should again look at these small pullbacks as buying opportunities
as we could well see USD.CAD at higher levels as the weeks march on.
Up
today we get the US Retail Sales report for January and I will be looking to
see if the US economy can keep up the momentum, we also get some Canadian
housing data, if we start to see any declines in the data it may push the Loonie
a little lower.
Have
a great day
Mike
GFX
Morning Currency Rates
|
||||||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | 4pm close Wednesday | |||||||
| USD/CAD | 1.2557 | 1.2635 | 1.2638 | |||||||
| CAD/USD | 0.7963 | 0.7914 | 0.7912 | |||||||
| EUR/USD | 1.134 | 1.13 | 1.1303 | |||||||
| EUR/CAD | 1.424 | 1.4276 | 1.429 | |||||||
| STG/CAD | 1.9254 | 1.9318 | 1.9277 | |||||||
| AUD/CAD | 0.9644 | 0.9754 | 0.9745 | |||||||
| CAD/JPY | 95.35 | 94.84 | 95.13 | |||||||
| CAD/CHF | 0.7412 | 0.7327 | 0.7338 | |||||||
| CAD/HKD | 6.1531 | 6.1153 | 6.1127 | |||||||
| CAD/CNY | 4.9725 | 4.9395 | 4.9367 | |||||||
| CAD/MXN | 12.0075 | 11.9205 | 11.9205 | |||||||
| Commodities | ||||||||||
| Gold | $1,223 | $1,233.00 | $1,219 | |||||||
| OIL | $50.14 | $49.71 | $49.27 | |||||||
| US DOLLAR INDEX | ||||||||||
| OPEN | 94.79 | 94.93 | 94.97 | |||||||
| US 10YR YIELD | 2.04% | 1.99% | 2.00% | |||||||
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