Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1000-1.1070
Today’s
expected range for the Canadian Dollar against the Euro is 1.5060-1.5130
Today’s
expected range for the Canadian Dollar against Sterling is 1.8050-1.8120
The
US Dollar is mixed in overnight trading markets, Sterling and the Euro both
traded higher at one point during the overnight session as business confidence
in Germany is on the rise. Most of the overnight currency focus was again on
the emerging market currencies in the wake of the Argentina Peso being devalued
last week. The South African Rand is getting pummeled in a large part to a
mining strike and the Turkish Central Bank has called an emergency meeting to
deal with the record low level of the Turkish Lira, money is clearly flowing
out the of the emerging markets and into more safe haven currencies like the US
Dollar, Swiss Franc and Japanese Yen.
The
Canadian Dollar is stronger this morning as the emerging market situation has
taken the focus of the free-falling Loonie, USD.CAD is now some 150 points off
its high from early last week. It has been a steady rally for the Loonie but
the questions is how long will it last before it moves higher? If I was a US Dollar
buyer I would employ some common sense and look to purchase someone of my
requirements at current levels with the expectation that it could fall further and
improve my overall average.
There
is nothing of note on the economic calendar today so the Loonie should trade in
a confined range.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
USD/CAD | 1.1054 | 1.1077 | |||||
CAD/USD | 0.9046 | 0.9028 | |||||
EUR/USD | 1.3668 | 1.3722 | |||||
EUR/CAD | 1.5118 | 1.52 | |||||
STG/CAD | 1.8324 | 1.84 | |||||
AUD/CAD | 0.9667 | 0.9635 | |||||
CAD/JPY | 92.93 | 92.52 | |||||
CAD/CHF | 0.81 | 0.8057 | |||||
CAD/HKD | 7.0021 | 7.024 | |||||
CAD/CNY | 5.4681 | 5.4588 | |||||
CAD/MXN | 12.1155 | 12.3603 | |||||
Commodities | |||||||
Gold | $1,263.00 | $1,270.00 | |||||
OIL | $96.74 | $96.95 | |||||
US DOLLAR INDEX | |||||||
P.CLOSE | 80.5 | 80.62 | |||||
OPEN | 80.5 | 80.25 | |||||
US 10YR YIELD | 2.75% | 2.71% |
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