Today's expected range
for the Canadian Dollar against the US Dollar is 1.1025-1.1080
Today's expected range
for the Canadian Dollar against the Euro is 1.5240-1.5300
Today's expected range
for the Canadian Dollar against Sterling is 1.8370-1.8440
The US Dollar is
weaker this morning as a better than expected German Employment report and
stronger Spanish manufacturing data helped push the Euro higher overnight, the
Euro rose at the expense of the US Dollar for the third day in a row as the
Euro-Zone recovery seems to be gathering momentum.
The Canadian Dollar
took its first run yesterday at the 1.1000 level after the better than expected
Canadian GDP report gave the Loonie a boost, as I expected it was not able to break
through on the first try and USD.CAD has traded higher the rest of the day. As
I mentioned last week any Canadian Dollar strength will be hard to come by but
when the Loonie starts to weaken it will be quick and volatile.
With a new month comes
all new economic data, up today we get some secondary inflation data and on
Friday we get the all-important US and Canadian jobs reports, as the new month
kicks off we should see volatility start to jump again. I look for USD.CAD to
range trade for the day between 1.1000 and 1.1100 as the outside parameters, we
should stay in that range ahead of the Employment reports on Friday
In another interesting
development the US, Canadian and Mexican Governments announced the creation of
a common currency that will take effect Jan 1st. The Amero will replace all the
existing local currencies and the Canadian content on the currency will feature
Toronto Mayor Rob Ford on the $10 dollar bill in recognition for his
contribution to Canadian politics.
Welcome to April, have
a great month
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1063 | 1.1051 | |||||
| CAD/USD | 0.9039 | 0.9049 | |||||
| EUR/USD | 1.3794 | 1.3788 | |||||
| EUR/CAD | 1.5263 | 1.5244 | |||||
| STG/CAD | 1.842 | 1.8398 | |||||
| AUD/CAD | 1.0222 | 1.0206 | |||||
| CAD/JPY | 93.41 | 93.35 | |||||
| CAD/CHF | 0.7977 | 0.7996 | |||||
| CAD/HKD | 6.9901 | 6.9977 | |||||
| CAD/CNY | 5.6105 | 5.6233 | |||||
| CAD/MXN | 11.8174 | 11.8167 | |||||
| Commodities | |||||||
| Gold | $1,285.00 | $1,295.00 | |||||
| OIL | $101.37 | $101.24 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.06 | 80.34 | |||||
| OPEN | 80.06 | 80.18 | |||||
| US 10YR YIELD | 2.74% | 2.74% | |||||
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