Good afternoon,
Below are the current daily levels vs.
the other major currencies.
USD.CAD 1.0650 up 0.06%
GBP.CAD 1.7482 up 0.41%
EUR.CAD 1.4486 up 0.49%
The European Union's statistics agency Tuesday said producer prices fell by
0.5% from September, and were 1.4% lower than in October 2012. That was the
largest drop over a 12-month period since December 2009. The decline in prices
over the month and year was larger than expected. Currently, the EURO is up 0.47%
against the US dollar.
We may see some volatility later this week, with monetary-policy decisions
expected from the Bank of England and the European Central Bank on Thursday. The ECB is expected to sit on hands after
unexpectedly cutting rates to the record low of 0.25% in November, while the BOE will
most probably stick to its forward guidance mantra of the
7% unemployment threshold not being an automatic trigger for a rate hike.
The Canadian dollar continues to fall against the majority of its
most-traded peers before a central-bank meeting tomorrow at 10:00 a.m. when
policy makers are projected to leave the benchmark interest rate
unchanged. The US is up 0.06% against
the CAD.
The overnight expected range for the
Canadian dollar against the USD dollar 1.0600-1.0700
The overnight expected range for the
Canadian dollar against the Euro is 1.4440-1.4540
The overnight expected range for the
Canadian dollar against the Sterling is 1.7430-1.7530
Have a great day.
Barbara
Barbara Friedman | GFX Partners Inc. |Currency Advisor
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