Today's
expected range for the Canadian Dollar against the US Dollar is 1.0280-1.0350
Today's
expected range for the Canadian Dollar against the Euro is 1.3750-1.3825
Today's
expected range for the Canadian Dollar against Sterling is 1.6400-1.6475
The
US Dollar is marginally lower this morning as the Euro traded higher overnight
on the improving German economy. The latest German ZEW report showed investor
confidence in the German economy grew at a better rate that was expected. There
are clear signs that Germany is starting to pull itself out of recession, good
news which will probably help Merkel in next week’s general election.
The
Canadian Dollar had a very quiet night as it traded in a narrow range, USD.CAD
is basically right where we left it last night, the Loonie did give up small amounts
of strength yesterday as USD.CAD popped up a bit. This goes to my point that
any Canadian Dollar strength will be difficult and slow so US Dollar buyers
need to be looking at some forward contracts at these levels.
Up
today we get the US inflation report for August and unless inflation is doing anything
crazy I don’t expect it to have much impact on the currency markets, the market
will setup for tomorrow’s US Federal Reserve announcement on interest rates and
be looking to see if the Fed starts to turn off the taps on the stimulus
program. I look for USD.CAD to trade in a very tight range today with a bias
for it to move slightly higher.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0315 | 1.0297 | |||||
| CAD/USD | 0.9694 | 0.9711 | |||||
| EUR/USD | 1.336 | 1.3347 | |||||
| EUR/CAD | 1.3782 | 1.3745 | |||||
| STG/CAD | 1.6405 | 1.6402 | |||||
| AUD/CAD | 0.9639 | 0.9654 | |||||
| CAD/JPY | 96.06 | 96.01 | |||||
| CAD/CHF | 0.8967 | 0.9001 | |||||
| CAD/HKD | 7.5105 | 7.5249 | |||||
| CAD/CNY | 5.9312 | 5.94 | |||||
| CAD/MXN | 12.5692 | 12.5629 | |||||
| Commodities | |||||||
| Gold | $1,319.00 | $1,315.00 | |||||
| OIL | $106.13 | $106.85 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.43 | 81.68 | |||||
| OPEN | 81.32 | 81.33 | |||||
| US 10YR YIELD | 2.84% | 2.81% | |||||
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