Today's expected range
for the Canadian Dollar against the US Dollar is 1.1030-1.1110
Today's expected range
for the Canadian Dollar against the Euro is 1.4930-1.5000
Today's expected range
for the Canadian Dollar against Sterling is 1.7970-18040
The US Dollar is for the
most part unchanged despite some poor data out of Europe. In Europe the Euro-Zone
Retail Sales report came in weaker than expected and has helped push the Euro a little bit lower,
in the UK a manufacturing report came in worse than expected and when you tie
this in with dovish comments from Bank of England Governor Carney last week
Sterling may be turning around. All currency traders will be looking to the
what the Bank of England and European Central Banks do with their interest announcement
tomorrow morning.
The Canadian Dollar is
marginally stronger this morning as it trades in narrow ranges. USD.CAD will
need to get a good break below 1.1050 to garner any further strength, it is
setting up as a big barrier to be broken. If the rate does drop we strongly
encourage US Dollar buyers to put on some forward contracts as the bias is
still for a weaker Canadian Dollar, if the unemployment data on Friday for
Canada is poor then we could easily see USD.CAD back up at 1.1200.
Up today we do get
some secondary data but the markets are setting up for the UK and European
interest rate announcements tomorrow and the employment reports out of both
Canada and the US on Friday, all of which should bring back some renewed
volatility. For now the Canadian Dollar continues to struggle to hold onto any
strength and it should remain range bound ahead of the upcoming announcements.
We still encourage US Dollar buyers to look at putting on some forward
contracts if the Loonie stages any further short-term strength.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1055 | 1.109 | |||||
| CAD/USD | 0.9045 | 0.9017 | |||||
| EUR/USD | 1.3513 | 1.3513 | |||||
| EUR/CAD | 1.4944 | 1.4993 | |||||
| STG/CAD | 1.7991 | 1.8103 | |||||
| AUD/CAD | 0.9869 | 0.986 | |||||
| CAD/JPY | 91.43 | 91.29 | |||||
| CAD/CHF | 0.8178 | 0.8147 | |||||
| CAD/HKD | 6.9981 | 6.978 | |||||
| CAD/CNY | 5.4794 | 5.4631 | |||||
| CAD/MXN | 12.0498 | 12.1178 | |||||
| Commodities | |||||||
| Gold | $1,258.00 | $1,259.00 | |||||
| OIL | $97.87 | $96.48 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.14 | 81.07 | |||||
| OPEN | 81.1 | 81.06 | |||||
| US 10YR YIELD | 2.62% | 2.60% | |||||
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