Good Morning,
Today’s suggested range for
the Canadian dollar against the U.S. is 1.1040 – 1.1110
Today’s suggested range for
the Canadian dollar against the Euro is 1.5175 – 1.5275
Today’s suggested range for
the Canadian dollar against Sterling is 1.8475 – 1.8575
The U.S. dollar is stronger
against the so called safe haven currencies Japanese Yen and Swiss Franc as the
situation in the Ukraine has calmed. Overnight the Aussie dollar strengthened
against the USD after the economy expanded last quarter more than expected
signalling that the Reserve Bank of Australia is done with lowering interest rates.
In Europe the European single
currency traded at the lower end flirting with EUR/USD 1.3700 in a very tight
band. Eurozone GDP data 4th qtr. came in line with expectations
rising 0.3% and y/y 0.5%. The focus for the Euro is tomorrow’s ECB interest
rate announcement. Policymakers in the Eurozone are under pressure to cut
interest rates or find unconventional measures to prevent the threat of
deflation. The British Pound rallied following a report showing U.K. services
output expanded 58.2 higher than the consensus of 58.0 showing signs the
economy is gaining momentum.
The Canadian dollar continues
to consolidate ahead of the Bank of Canada interest rate announcement at
10:00am this morning. The BOC is expected to hold on interest rates but the
market will be watching the language closely to see whether or not they move
away from their neutral position and hint at higher interest rates further out.
In the U.S. today we have ISM non-manufacturing data released at the same time
as the BOC announcement with expectations lowered from the previous month to
53.7 versus 54.0. Dow futures are flat after a strong rally yesterday with both
oil and gold marginally lower.
Have a great day!
| GFX
Morning Currency Rates |
|
| Wednesday March 05,
2014 |
|
| Currencies |
7:00am Today's Opening |
|
Yesterday's Opening |
|
|
|
|
|
|
|
|
| USD/CAD |
|
1.1073 |
|
|
1.1071 |
|
|
| CAD/USD |
|
0.9031 |
|
|
0.9032 |
|
|
| EUR/USD |
|
1.3716 |
|
|
1.3761 |
|
|
| EUR/CAD |
|
1.5194 |
|
|
1.524 |
|
|
| STG/CAD |
|
1.8982 |
|
|
1.848 |
|
|
| AUD/CAD |
|
0.9941 |
|
|
0.9913 |
|
|
| CAD/JPY |
|
92.41 |
|
|
91.97 |
|
|
| CAD/CHF |
|
0.8019 |
|
|
0.7983 |
|
|
| CAD/HKD |
|
6.9858 |
|
|
6.9871 |
|
|
| CAD/CNY |
|
5.5312 |
|
|
5.5493 |
|
|
| CAD/MXN |
|
11..9826 |
|
|
12.0051 |
|
|
| Commodities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gold |
|
$1,334.00 |
|
|
$1,337.00 |
|
|
| OIL |
|
$102.88 |
|
|
$103.46 |
|
|
|
|
|
|
|
|
|
|
| US
DOLLAR INDEX |
|
|
|
|
|
|
| P.CLOSE |
|
80.16 |
|
|
80.08 |
|
|
| OPEN |
|
80.22 |
|
|
79.97 |
|
|
|
|
|
|
|
|
|
|
| US 10YR YIELD |
|
2.69% |
|
|
2.65% |
|
|
|
|
|
|
|
|
|
|
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