Today's
expected range for the Canadian Dollar against the US Dollar is .9940-1.0025
Today's
expected range for the Canadian Dollar against the Euro is 1.3500-1.3575
Today's
expected range for the Canadian Dollar against Sterling is 1.5680-1.5750
The
US Dollar is marginally weaker this morning as the Euro has jumped higher on
reports that the PMI services report (a report that measures activity in the
service industry) was better than expected. I get a renewed sense that Euro-Land
investors are incredibly nervous about their economy right now, they seem to be
increasingly reacting to any news, negative or positive with great vigor, I
don't think there is much consensus on where the economy is really going.
The
Reserve Bank of Australia kept its interest rate at 3.0% which I am sure will
upset the Government but the Aussie dollar did fall as the statement from the
RBA indicates that future rate cuts are very likely, another salvo in the
currency war.
The
Canadian Dollar is unchanged from yesterday's close after another quiet night
on overseas markets. After settling in below par the Loonie spent yesterday
gradually getting weaker as it once again became range bound.
Up
today we have little in the way of economic releases, so I don’t look for a big
trading range for USD.CAD, with equities looking like the will be higher today
so I won’t be surprised if we see USD.CAD move back towards the .9950 level to
start the day. Currency traders will start to get ready for the interest rate
announcements on Thursday and the Canadian employment report on Friday.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9976 | 0.9955 | |||||
| CAD/USD | 1.0024 | 1.0045 | |||||
| EUR/USD | 1.5454 | 1.3566 | |||||
| EUR/CAD | 1.5709 | 1.3507 | |||||
| STG/CAD | 1.5709 | 1.5653 | |||||
| AUD/CAD | 1.0364 | 1.0381 | |||||
| CAD/JPY | 93.32 | 0.9556 | |||||
| CAD/CHF | 0.9102 | 0.9149 | |||||
| CAD/HKD | 7.7518 | 7.7676 | |||||
| CAD/CNY | 6.241 | 6.2565 | |||||
| CAD/MXN | 12.694 | ||||||
| Commodities | |||||||
| Gold | $1,680 | $1,664 | |||||
| OIL | $96.90 | $96.83 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 6.00% | 6.00% | |||||
| 1 Week | 6.50% | 6.50% | |||||
| 1 Month | 6.25% | 6.25% | |||||
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