Today's
expected range for the Canadian Dollar against the US Dollar is .9875-.9975
Today's
expected range for the Canadian Dollar against the Euro is 1.3200-1.3275
Today's
expected range for the Canadian Dollar against Sterling is 1.5700-1.5775
The
US Dollar is marginally weaker this morning in muted overnight trading with the
Japanese Yen once again dominating the currency markets. In my years of
experience I have always found that when currency markets are focused on activities
in Japan other currency trading tends to take a back seat.
Sterling
is a bit stronger today on the back of better than expected employment data, it
appears that the UK employment picture is remaining steady despite a slowing
economy.
The
Canadian Dollar continues to trade in narrow ranges but the Loonie is ever so
slowly starting to recover the strength that it lost on Friday. This may all
change today as we await the interest rate policy and monetary policy
announcements from the Bank of Canada. With virtually no chance of a change to
the present interest rate policy currency traders will focus on the Bank's view
of the economy as most economists will
be expecting a more downbeat expectation for Canadian growth, a very poor
report may be enough to push USD.CAD back towards parity. If the report is more
upbeat and the Bank mentions "removing stimulus" (increasing interest
rates) then we will see USD.CAD back towards the .9850 level very quickly. 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 | 0.9916 | 0.9918 | |||||
| CAD/USD | 1.0094 | 1.0092 | |||||
| EUR/USD | 1.3337 | 1.335 | |||||
| EUR/CAD | 1.3227 | 1.3243 | |||||
| STG/CAD | 1.5718 | 1.5744 | |||||
| AUD/CAD | 1.0467 | 1.0486 | |||||
| CAD/JPY | 89.1 | 89.47 | |||||
| CAD/CHF | 0.9358 | 0.9363 | |||||
| CAD/HKD | 7.7973 | 7.7455 | |||||
| CAD/CNY | 6.2685 | 6.2676 | |||||
| CAD/MXN | 12.767 | 12.7711 | |||||
| Commodities | |||||||
| Gold | $1,692 | $1,691 | |||||
| OIL | $96.71 | $95.51 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.60% | 7.58% | |||||
| 1 Week | 6.12% | 6.15% | |||||
| 1 Month | 5.85% | 5.84% | |||||
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