Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0375-1.0450
Today’s
expected range for the Canadian Dollar against the Euro is 1.3620-1.3700
Today’s
expected range for the Canadian Dollar against Sterling is 1.5700-1.5775
The
US Dollar is weaker this morning as Euro and Sterling have both jumped. I think
this is still the currency markets settling down after the Bernanke comments of
last week, the Euro is higher despite a poor investor confidence report out of
Germany so I am not convinced that the Euro is going to run a lot higher but
for the moment it seems to be taking advantage of the overnight weakness in the
US Dollar. The Australian Dollar continues to be the big mover in overnight
markets, last night it recovered about 0.5% as investors cut back on their bets
that the Reserve Bank of Australia will cut interest rates at their next
meeting.
The
Canadian Dollar is unchanged from our
close yesterday, it was marginally weaker during the night but nothing material,
Canadian Dollar trading should be subdued ahead of the Bank of Canada
announcement tomorrow.
Up
today we get the release of the US Consumer Price Report as well as some manufacturing
data out of Canada so we could see some volatility around these releases, US Dollar
buyers should not expect any big drops in the next 24 hours ahead of the Bank
of Canada announcement tomorrow, I would suggest orders around 1.0400 are appropriate
at the moment. US Dollar sellers may see a pullback towards 1.0450 today, I think
that level would represent good short-term value for US sellers.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0411 | 1.0428 | |||||
| CAD/USD | 0.9498 | ||||||
| EUR/USD | 1.3112 | 1.3024 | |||||
| EUR/CAD | 1.3653 | 1.3579 | |||||
| STG/CAD | 1.5732 | 1.5694 | |||||
| AUD/CAD | 0.9601 | 1.059 | |||||
| CAD/JPY | 95.4 | 95.96 | |||||
| CAD/CHF | 0.9054 | 0.9128 | |||||
| CAD/HKD | 7.4486 | 7.4104 | |||||
| CAD/CNY | 5.89 | 5.8863 | |||||
| Commodities | |||||||
| Gold | $1,287.36 | $1,282.38 | |||||
| OIL | $106.48 | $105.28 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 83.2 | ||||||
| OPEN | 82.92 | 83.44 | |||||
| US 10YR YIELD | 2.53% | 2.60% | |||||
No comments:
Post a Comment