Today’s expected range for the Canadian Dollar against the US Dollar is 1.0040-1.0125
Today’s
expected range for the Canadian Dollar against Sterling is 1.3200-1.3280
Today’s expected range for the Canadian Dollar against the Euro is 1.5670-1.5750
The
US Dollar was marginally stronger in quiet overnight currency trading markets, with
the UK being closed for the Spring Bank holiday equity and currency trading was
very light. In Europe it was reported
that the French Prime Minister Moscovici declared the “era of austerity over”,
this is from a Socialist government that
failed to hit its 2012 budget deficit targets and did achieve a budget deficit
of 3% of GFX this year, with this kind of leadership Europe is so screwed.
On
the geopolitical front, something to keep an eye on is the second attack by Israel
on Syria in the past two weeks. If Israel is drawn into a wider conflict with
Syria, Hezbollah and Hamas then we could see financial markets get nervous
about other countries getting involved at some point. I don’t think anything
will happen in the short-term but with Iran calling a lot of the shots in the
region you never know.
The
Canadian Dollar traded in a very tight overnight range as it was ignored by
global currency traders throughout the night, it is basically right where we
have left it on Friday. I am not sure anything much will happen today, the
market does not get any significant economic releases until Friday’s Canadian employment report so I am not sure that we
will have any real volatility this week. I would expect that we should continue
to trade back and forth around 1.0100 in quiet markets for most of the week, if
we see the Euro continue to get stronger then we should see USD.CAD try and
break back towards par towards.
Have
a great week
Mike|
GFX Morning Currency Rates
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Currencies
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7:00am Today's Opening
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Yesterday's Opening
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USD/CAD
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1.0083
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1.0108
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CAD/USD
|
0.9917
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0.9893
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EUR/USD
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1.3105
|
1.322
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EUR/CAD
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1.3216
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1.3267
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STG/CAD
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1.5693
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1.5732
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AUD/CAD
|
1.0341
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1.0377
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CAD/JPY
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98.37
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96.96
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CAD/CHF
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0.9291
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0.9217
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CAD/HKD
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7.674
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7.6541
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CAD/CNY
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6.1128
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6.0882
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CAD/MXN
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11.991
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12.0523
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Commodities
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Gold
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$1,474.00
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$1,481.00
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OIL
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$96.12
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$94.53
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US DOLLAR INDEX
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P.CLOSE
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82.16
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82.28
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OPEN
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82.26
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82.07
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