Today's expected range for the Canadian Dollar against the US Dollar is 1.0300-1.0370
Today's
expected range for the Canadian Dollar against the Euro is 1.4020-1.4100
Today's
expected range for the Canadian Dollar against Sterling is 1.6550-1.6620
The
US Dollar is a little stronger this morning against the Euro and Sterling in
very quiet overnight trading markets. It is a bit weaker against the Yen as the
Bank of Japan did not announce any changes to their interest rate or stimulus program
but did warn that if the US Government does not raise the debt ceiling then
they would have to take further action to protect the Japanese economy. Today
would have been a busy day as we were expecting the US Employment report to
have been released but that has been postponed due to the Government shutdown.
With less and less economic information being released global investors will
become increasingly nervous about the US recovery and will expect the US
Federal Reserve to continue providing stimulus to the economy.
Sterling continues to give up ground as it bounces lower after setting a nine-month high against the Greenback earlier this week. The Pound has been on quite a run as of late and I really don’t think the UK economy warrants such a strong currency, I don’t think it will weaken dramatically in a straight line down but I think it will start to trade with a weak bias over the short-term
The Canadian Dollar is right where we closed it last night so once again a very uninspiring evening for the Loonie. With the lack of economic news I would not expect anything much to happen today, we do get the release of the Ivey Purchasing Managers Index at 10:00 so we may see a little volatility around that release, I look for continued appreciation of USD.CAD today with the potential for 1.0400 next week.
Have
a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
USD/CAD | 1.0336 | 1.0335 | |||||
CAD/USD | 0.9675 | 0.9675 | |||||
EUR/USD | 1.3593 | 1.36 | |||||
EUR/CAD | 1.4053 | 1.4058 | |||||
STG/CAD | 1.6591 | 1.6765 | |||||
AUD/CAD | 0.9744 | 0.9658 | |||||
CAD/JPY | 93.95 | 94.51 | |||||
CAD/CHF | 0.8728 | 0.8721 | |||||
CAD/HKD | 7.4959 | 7.4477 | |||||
CAD/CNY | 5.9226 | 5.9194 | |||||
CAD/MXN | 12.7453 | 12.7419 | |||||
Commodities | |||||||
Gold | $1,316.00 | $1,305.00 | |||||
OIL | $103.66 | $103.89 | |||||
US DOLLAR INDEX | |||||||
P.CLOSE | 79.87 | 79.99 | |||||
OPEN | 80.03 | 79.96 | |||||
US 10YR YIELD | 2.62% | 2.64% |
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