Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0400-1.0470
Today’s
expected range for the Canadian Dollar against the Euro is 1.4400-1.4475
Today’s
expected range for the Canadian Dollar against Sterling is 1.6900-1.6975
The
US Dollar starts the last trading week in October unchanged for the most part
as a major hurricane style storm has pretty much brought the financial markets in
London to a standstill. Hurricane style winds have closed the airports and
stopped the trains from running preventing staff from getting into the city centre.
Sterling did get another boost overnight as it reached a four-week high after a
report showed UK housing prices increased for a ninth straight month, so once
again we see strong reports coming out of the
UK. The Dollar is stronger against the Yen as the Deputy Governor of the
Bank of Japan indicated that the Central Bank is fully committed to its fiscal
program.
In
a quiet overnight market the Canadian Dollar is unchanged against the US Dollar
from its Friday close but once again is weaker against both the Euro and
Sterling, this trend should continue for the next little while.
With
only housing data out of the US today, I would expect a very quiet day for the
Loonie, we still favour a push up towards 1.0500 with any pullbacks limited to
the 1.0400 level. US Dollar buyers
should be ready if we dip below 1.0425 today, with the weakness in the Loonie
at the moment I just don’t see a situation where we will have prolonged bouts
of Canadian Dollar strength in the next few days. The week should get busier as
we get some important economic data as the week goes on.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0442 | 1.0437 | |||||
| CAD/USD | 0.9581 | ||||||
| EUR/USD | 1.3816 | 1.3806 | |||||
| EUR/CAD | 1.4422 | 1.441 | |||||
| STG/CAD | 1.6922 | 1.6903 | |||||
| AUD/CAD | 1.0037 | 1.0014 | |||||
| CAD/JPY | 93.46 | 93.13 | |||||
| CAD/CHF | 0.8557 | 0.8558 | |||||
| CAD/HKD | 7.4235 | 7.4232 | |||||
| CAD/CNY | 5.827 | 5.8255 | |||||
| CAD/MXN | 12.4393 | ||||||
| Commodities | |||||||
| Gold | $1,361.89 | $1,340.00 | |||||
| OIL | $97.94 | $97.59 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.25 | ||||||
| OPEN | 79.25 | 79.24 | |||||
| US 10YR YIELD | 2.51% | 2.51% | |||||
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