Today's expected range
for the Canadian Dollar against the US Dollar is 1.0525-1.0580
Today's expected range for the Canadian Dollar against the Euro is 1.4250-1.4330
Today's expected range
for the Canadian Dollar against Sterling is 1.7060-1.7130
The US Dollar is
higher this morning as the world's currency markets react to the announcement
of a deal on Iran's nuclear ambitions. The Euro is also lower on ECB official
comments that they stand ready to reduce interest rates again if necessary, I
am not sure just how much the ECB can cut further as most economists will
debate how negative interest rates will affect the economy. The Pound is also weaker
this morning on poor housing data, USD.JPY had a big move last night as it almost
reached 1.0200, the Yen continues to trade weaker thus helping that countries
export economy.
The Canadian Dollar is
again weaker this morning as USD.CAD continues to march higher, in the
short-term I think it will consolidate around the 1.0550 level before
pushing higher, I would not be surprised if we hit 1.0600 later this week.
With little economic
data today I am not expecting any big moves for USD.CAD, it would be nice to
see a bit of a pullback towards 1.0500 to give US Dollar buyers a chance to get
some at better levels but ultimately I think we will test the yearly high up at
1.0600 at some point this week.
Just a personal note
on the Iran deal, as a student of history while I certainly hope this is a
strong deal I am reminded of British Prime Minister Neville Chamberlin
returning from Germany waving a signed letter by Hitler and proclaiming that he
has "achieved peace in our time", we all know how that worked out.
Also commiserations to all my fellow Tiger-Cat fans, with a new stadium next
year 2014 will be our year.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0551 | 1.0556 | |||||
| CAD/USD | 1.3527 | 0.9473 | |||||
| EUR/USD | 1.3522 | 1.3516 | |||||
| EUR/CAD | 1.427 | 1.427 | |||||
| STG/CAD | 1.7093 | 1.716 | |||||
| AUD/CAD | 0.967 | 96.8 | |||||
| CAD/JPY | 96.43 | 95.89 | |||||
| CAD/CHF | 0.8623 | 0.8622 | |||||
| CAD/HKD | 7.3407 | 7.3389 | |||||
| CAD/CNY | 5.7723 | 5.77 | |||||
| CAD/MXN | 12.2972 | 12.4025 | |||||
| Commodities | |||||||
| Gold | $1,231.00 | $1,241.00 | |||||
| OIL | $93.65 | $95.16 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.69 | ||||||
| OPEN | 80.9 | ||||||
| US 10YR YIELD | 2.75% | 2.74% | |||||
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