Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0175-1.0250
Today’s
expected range for the Canadian Dollar against the Euro is 1.3630-1.3700
Today’s
expected range for the Canadian Dollar against Sterling is 1.5930-1.6000
The
US Dollar is mixed this morning as it is stronger against Sterling, Aussie and
Yen but weaker against the Euro and Canadian Dollars. In Germany the Euro is
stronger on a better than expected ZEW business survey, this report aims to
predict German economic development going out 6 months so any prolonged period
of good reports indicates positive developments for the German economy.
EURO.USD rose to trade to a high of 1.3390 shortly after the announcement.
In
Australia the minutes of the Last Reserve Bank of Australia policy meeting were
released and it showed that committee members see room for interest rates to go
lower, in other words the Australians are quite happy to have their currency
weaken. AUD.USD fell to trade at .9440 this morning and it looks like there is
room for it to drop further.
The
Canadian Dollar gave back a little strength last night but is now in the middle
of this 1.0150 to 1.0250 trading range that it has been stuck in for a while, it
could not break and hold below 1.1050 so I guess now it will try the 1.0250
level, with only US Wholesale trade due out this morning it is unlikely that we
will see any great movement today. In the afternoon the currency market will
start to square up ahead of the US
Federal Reserve announcement on interest rates so if you want to avoid any of
the severe moves that we could get tomorrow make sure you have your orders in
today.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0204 | 1.0156 | |||||
| CAD/USD | 0.98 | 0.9846 | |||||
| EUR/USD | 1.338 | 1.3339 | |||||
| EUR/CAD | 1.3656 | 1.355 | |||||
| STG/CAD | 1.5949 | 1.5955 | |||||
| AUD/CAD | 0.965 | 0.9768 | |||||
| CAD/JPY | 0.9342 | 0.9328 | |||||
| CAD/CHF | 0.901 | 0.9087 | |||||
| CAD/HKD | 7.5812 | 7.6178 | |||||
| CAD/CNY | 6.0026 | 6.0279 | |||||
| CAD/MXN | 12.6285 | 12.498 | |||||
| Commodities | |||||||
| Gold | $1,377.00 | $1,385.00 | |||||
| OIL | $97.54 | $98.40 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.81 | 80.82 | |||||
| OPEN | 80.88 | 80.91 | |||||
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