Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0280-1.0370
Today’s expected range for the Canadian Dollar against the Euro is 1.3700-1.3775
Today’s expected range for the Canadian Dollar against Sterling is 1.6080-1.6180
The
US Dollar is marginally weaker this morning as positive data out of the UK has
pushed both Sterling and Euro a little higher. In the UK the July Retail sales report
surged to a gain of 1.1% beating economist expectations of a 0.6% rise. Recently
we have seen a spate of positive date out of the UK and Europe so both of those
currencies are slowly starting to make gains against the Greenback.
The
Canadian Dollar is marginally stronger this morning but is off its highs from
the overnight market. Nothing new to report on the Loonie, it continues to
trade in narrow ranges with no real sense of direction at the moment, it is
just reacting to any developments outside of Canada. I still favour a small move
back towards 1.0400 before a move to 1.0250 but that can easily be derailed by
any news hitting the market.
Up
today we get a slew of economic data out of the US, the most important release
being watched by the markets will be the July Inflation report, if the report
shows that inflation is benign then the markets will not see any short-term reason
for the US Federal Reserve to slow the taps on stimulus but if it shows that inflation
is starting to rise then look for equities to get hit and the US Dollar to jump
higher, either way we should have some enhanced volatility around the release.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0325 | 1.0339 | |||||
| CAD/USD | 0.9695 | 0.9672 | |||||
| EUR/USD | 1.3284 | 1.3245 | |||||
| EUR/CAD | 1.3716 | 1.3645 | |||||
| STG/CAD | 1.6087 | 1.6004 | |||||
| AUD/CAD | 0.9457 | 0.9433 | |||||
| CAD/JPY | 95.08 | 94.94 | |||||
| CAD/CHF | 0.9057 | 0.9056 | |||||
| CAD/HKD | 7.4899 | 7.4784 | |||||
| CAD/CNY | 5.9177 | 5.9166 | |||||
| CAD/MXN | 12.3687 | 12.3294 | |||||
| Commodities | |||||||
| Gold | $1,335.00 | $1,325.00 | |||||
| OIL | $107.58 | $106.13 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.76 | 81.79 | |||||
| OPEN | 81.61 | 81.83 | |||||
| US 10YR YIELD | 2.71% | 2.72% | |||||
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