Today’s
expected range for the Canadian Dollar against the US Dollar is .9880-.9950
Today’s
expected range for the Canadian Dollar against the Euro is 1.3010-1.3075
Today’s expected range for the Canadian Dollar against the Sterling is 1.5900-15970
The
US Dollar is marginally weaker this morning as better than expected Chinese
manufacturing data and the unresolved budget negotiations in the US helped push
equities higher and the US Dollar lower. In very quiet trading conditions
EURO.USD rose to trade at 1.3040 but still trades in recent ranges as it looks
for a breakout.
This
week could be a very busy week as the new month brings lots of economic reports
with it, we kick off with some manufacturing data out of the US today, followed
later in the week by several Central Bank policy announcements (including the
Bank of Canada tomorrow) and then we close out the week with the Canadian and
US employment reports on Friday, hopefully these reports will get the market
moving.
Nothing
new to report on the Canadian Dollar front, one of our trading partners told us
last week’s USD.CAD trading range was the smallest weekly trading range for the
Loonie since 1991, hopefully the economic activity this week will get the Loonie
moving in one direction or the other.
Up
today we get the ISM manufacturing data and Construction Spending out of the US.
I would expect that we will see more positive data out of the US, if the
numbers are very strong then you will see equities jump higher and USD.CAD will
move lower towards .9900.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9925 | 0.9925 | |||||
| CAD/USD | 1.0075 | 1.0075 | |||||
| EUR/USD | 1.3028 | 1.3011 | |||||
| EUR/CAD | 1.2933 | 1.2915 | |||||
| STG/CAD | 1.5933 | 1.2929 | |||||
| AUD/CAD | 1.0348 | 1.0349 | |||||
| CAD/JPY | 82.76 | 83.26 | |||||
| CAD/CHF | 0.9321 | 0.9324 | |||||
| CAD/HKD | 7.7834 | 7.7874 | |||||
| CAD/CNY | 6.2726 | 6.2705 | |||||
| CAD/MXN | 13.0227 | 13.0132 | |||||
| Commodities | |||||||
| Gold | $1,717 | $1,732 | |||||
| OIL | $88.98 | $88.21 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 6.90% | 5.00% | |||||
| 1 Week | 5.20% | 5.20% | |||||
| 1 Month | 5.10% | 5.10% | |||||
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