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 1.5020-1.5100
Today's expected range
for the Canadian Dollar against Sterling is 1.8070-1.8150
The US Dollar is
marginally stronger in quiet overnight trading markets. In the UK, Sterling is
weaker as Bank of England Governor Carney is expected to make a statement this
week that UK interest rates will remain low for an extended period of time. In
Europe the Euro remains static as investors continue to worry about Euro-Zone
growth rates.
The Canadian Dollar is
unchanged from our close on Friday, it is holding onto its gains from Friday's
strong Canadian jobs report and the weak jobs report out of the US. While
having a good day on Friday the USD.CAD has not been able to extend its gains
outside of recent ranges and will still need a strong move lower or will see
USD.CAD move back above 1.1100. The price of Gold is jumping a bit as further downgrades
to some emerging market countries seem, the Canadian Dollar may benefit in the
short-term if gold continues to jump
Later this week we get
our first comments from New Federal Reserve chairperson Janet Yellen as she testifies
before Congress, investors will be looking to see if she is changing policy
tracks from her predecessor Ben Bernanke, is she hints that more stimulus is
needed then you should see stocks surge and the US Dollar trade weaker.
With no economic news
of note to be released today I am expecting USD.CAD to trade in a narrow bank
for most of the day, if we get a big movement in stocks then we may see some
activity.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1043 | 1.1066 | |||||
| CAD/USD | 0.9055 | 0.9037 | |||||
| EUR/USD | 1.3627 | 1.3566 | |||||
| EUR/CAD | 1.505 | 1.5066 | |||||
| STG/CAD | 1.8105 | 1.808 | |||||
| AUD/CAD | 0.9857 | 0.9897 | |||||
| CAD/JPY | 92.47 | 92.25 | |||||
| CAD/CHF | 0.8122 | 0.8146 | |||||
| CAD/HKD | 7.0035 | 6.9887 | |||||
| CAD/CNY | 5.4854 | 5.4793 | |||||
| CAD/MXN | 12.078 | 12.024 | |||||
| Commodities | |||||||
| Gold | $1,272.00 | $1,261.00 | |||||
| OIL | $99.52 | $97.43 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.68 | 80.89 | |||||
| OPEN | 80.69 | 80.97 | |||||
| US 10YR YIELD | 2.66% | 2.70% | |||||
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