Below are the current daily levels vs. the other major
currencies.
USD.CAD 1.0432 down 0.07%
GBP.CAD 1.6802 up 0.15%
EUR.CAD 1.4106 up 0.12%
The USD fell to the lowest level in
more than a week against the EURO. We
are awaiting remarks today from Federal Reserve speakers, and the feeling is
that they will echo Janet Yellen in reiterating the need for monetary
stimulus. This could cause some
volatility with USD against the major currencies.
The
Canadian dollar rose for a second day against the US dollar, as the outlook for
Canada’s commodity exports improved with China’s pledge to expand economic
freedoms.
The
only economic data out this morning in North America was foreign investment
flows for both countries. Foreign
investment in Canadian securities rose to CAD 8.36 billion in September,
exceeding expectations of CAD 6.71 billion, but it had little impact on the
currency market.
This
upcoming week’s highlights for Canada will include inflation data that will be released
on Friday, while in the U.S. Wednesday’s retail sales data and CPI will be
closely watched.
The overnight expected range for the Canadian dollar against the
USD dollar 1.0380-1.0480
The overnight expected range for the Canadian dollar against the
Euro is 1.4060-1.4140
The overnight expected range for the Canadian dollar against Sterling
is 1.6750-1.6850
Have a great afternoon.Barbara
Barbara Friedman | GFX
Partners Inc |Currency Advisor
No comments:
Post a Comment