Good Morning,
Today’s suggested range for
the Canadian dollar against the U.S. dollar is 1.1000 – 1.1050
Today’s suggested range for
the Canadian dollar against the Euro is 1.5125 – 1.5200
Today’s suggested range for
the Canadian dollar against Sterling is 1.8375 – 1.8490
Most of the major currency
pairs against the U.S. dollar were sidelined overnight ahead of important
interest rate announcements from the Bank of England and the European Central
Bank. The Japanese Yen weakened, dropping to a two week low against the
greenback after advisers said Japan’s Government Pension Investment Fund no
longer needs to focus on domestic bonds. While the Yen moved lower in the Asian
session the Aussie dollar surged on retail sales exceeding expectations by
three times consensus. The Aussie also got a boost from the trade surplus
expanding.
The Bank of England left
interest rates on hold at 0.50% and kept the quantitative easing steady, the
reaction by the British Pound was muted. Next to report is the ECB which is not
expected to move on interest rates which are currently at 0.25%. The statement
at 8:30am may hint at further stimulus as the major concern of the central bank
is combating deflation. The European single currency overnight was sidelined to
tight ranges moving less than 25 points.
The Canadian dollar is making
fresh gains from overnight as the crisis in the Ukraine appears to be calming
lending support to the currencies perceived as riskier CAD, AUD and NZD. How
much further the Canadian dollar can rally ahead of the important payroll data
tomorrow for both CAD and the U.S. remains to be seen. I would suggest it would
be difficult for the USD/CAD to drop below 1.0989 which translates into .9100 cents
U.S. In Canada today we have building permits for January at 8:30am and Ivey
purchasing managers index out at 10:00am, while in the U.S. we have jobless
claims and factory orders.
The Dow futures are pointing
higher by 30 with oil and gold slightly off.
Have a great day!
| GFX
Morning Currency Rates |
|
| Thursday March 06,
2014 |
|
| Currencies |
7:00am Today's Opening |
|
Yesterday's Opening |
|
|
|
|
|
|
|
|
| USD/CAD |
|
1.1023 |
|
|
1.1073 |
|
|
| CAD/USD |
|
0.9072 |
|
|
0.9031 |
|
|
| EUR/USD |
|
1.3743 |
|
|
1.3716 |
|
|
| EUR/CAD |
|
1.5151 |
|
|
1.5194 |
|
|
| STG/CAD |
|
1.8433 |
|
|
1.8982 |
|
|
| AUD/CAD |
|
0.9974 |
|
|
0.9941 |
|
|
| CAD/JPY |
|
93.13 |
|
|
92.41 |
|
|
| CAD/CHF |
|
0.8042 |
|
|
0.8019 |
|
|
| CAD/HKD |
|
7.0189 |
|
|
6.9858 |
|
|
| CAD/CNY |
|
5.5483 |
|
|
5.5312 |
|
|
| CAD/MXN |
|
11.9944 |
|
|
11..9826 |
|
|
| Commodities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gold |
|
$1,334.00 |
|
|
$1,334.00 |
|
|
| OIL |
|
$101.19 |
|
|
$102.88 |
|
|
|
|
|
|
|
|
|
|
| US
DOLLAR INDEX |
|
|
|
|
|
|
| P.CLOSE |
|
80.09 |
|
|
80.16 |
|
|
| OPEN |
|
80.1 |
|
|
80.22 |
|
|
|
|
|
|
|
|
|
|
| US 10YR YIELD |
|
2.69% |
|
|
2.69% |
|
|
|
|
|
|
|
|
|
|
|
|
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