Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0510-1.0570
Today’s
expected range for the Canadian Dollar against the Euro is 1.4250-1.4320
Today’s
expected range for the Canadian Dollar against Sterling is 1.7030-1.7100
The
US Dollar is marginally weaker this morning as the Greenback consolidates its
strong gains from yesterday. News from overnight markets saw the Japanese Yen
recover a little as minutes from the last Bank of Japan policy meeting showed
that some voting members saw downside risk to the economy. The Euro was
stronger overnight as the currency reacted to comments from the Chinese Central
Bank Governor stating that the Euro was an important part of the Central Banks
reserve currency program, a clear indication that the central bank is diversifying
itself away from the US Dollar and holding more Euro.
The
Canadian Dollar pulled back a little stronger overnight but for the most part
still remains as weak as it has been in the last few weeks. As I mention
yesterday I think we will see some consolidation for USD.CAD but I do not see a
big pullback for the currency pair in the days ahead, we still favour a test of
the yearly high up at 1.0600 at point in the next few days.
Up
today we get a slew of secondary data out of the States so we may get a bit of
movement in USD.CAD but for the most part I think it will be a quiet day, If we
see USD.CAD break below the 1.0525 level I think short-term US Dollar buyers
need to jump at that point and grab some US.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0533 | 1.0551 | |||||
| CAD/USD | 0.9443 | 1.3527 | |||||
| EUR/USD | 1.3545 | 1.3522 | |||||
| EUR/CAD | 1.4266 | 1.427 | |||||
| STG/CAD | 1.7036 | 1.7093 | |||||
| AUD/CAD | 0.96 | 0.967 | |||||
| CAD/JPY | 96.24 | 96.43 | |||||
| CAD/CHF | 0.865 | 0.8623 | |||||
| CAD/HKD | 7.3539 | 7.3407 | |||||
| CAD/CNY | 5.7825 | 5.7723 | |||||
| CAD/MXN | 12.4435 | 12.2972 | |||||
| Commodities | |||||||
| Gold | $1,251.00 | $1,231.00 | |||||
| OIL | $94.34 | $93.65 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.96 | 80.69 | |||||
| OPEN | 80.77 | 80.9 | |||||
| US 10YR YIELD | 2.72% | 2.75% | |||||
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