Today’s expected
range for the Canadian Dollar against the US Dollar is 1.1180-1.1250
Today’s expected
range for the Canadian Dollar against the Euro is 1.5420-1.5500
Today’s expected
range for the Canadian Dollar against Sterling is 1.8480-1.8550
The US Dollar is marginally stronger this
morning as comments by International Monetary Fund Managing Director Christine
LaGarde seem to have given the Greenback a little boost. In a speech this
morning in China LaGarde stated that the world economy is turning the corner
although growth remains slow and unbalanced.
In other economic news overnight the Chinese
purchasing managers index fell to an eight month low suggesting the slowdown in
China is more pronounced than originally thought and in Europe the Euro-Zone Purchasing
Managers index fell short of expectation so the recent numbers would seem to
contradict LaGarde’s comments on the Global economy, hopefully she knows more
than we are seeing at the moment.
The Canadian Dollar had a very quiet overnight
session trading very close to Friday’s closing rate above 1.1200. With no major
Canadian economic news out this week I would not expect much of a trading range
for USD.CAD and we should continue to trade around current levels, any movement
that we do get will be driven by cross
currency (Euro and Sterling) activities.
With no economic news out of the US and Canada
today I am not looking for much of a trading range, US Dollar buyers need to
look towards 1.1175/1.1150 as a good level for a pullback and US Dollar sellers
should be happy with current levels to lock in some forward contracts, anytime
the market gives you a 10%-12% premium I think you need to take advantage of
it.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1227 | 1.1257 | |||||
| CAD/USD | 0.8907 | 0.8895 | |||||
| EUR/USD | 1.3769 | 1.3789 | |||||
| EUR/CAD | 1.5461 | 1.5498 | |||||
| STG/CAD | 1.8516 | 1.8547 | |||||
| AUD/CAD | 1.0227 | 1.0208 | |||||
| CAD/JPY | 91.2 | 90.98 | |||||
| CAD/CHF | 0.7887 | 0.7856 | |||||
| CAD/HKD | 6.8884 | 6.8851 | |||||
| CAD/CNY | 5.5158 | 5.5404 | |||||
| CAD/MXN | 11.7752 | 11.8038 | |||||
| Commodities | |||||||
| Gold | $1,324.00 | $1,337.00 | |||||
| OIL | $98.95 | $99.10 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.11 | 80.19 | |||||
| OPEN | 80.27 | 80.13 | |||||
| US 10YR YIELD | 2.76% | 2.77% | |||||
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