Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0950-1.1050
Today’s
expected range for the Canadian Dollar against the Euro is 1.5180-1.5270
Today’s
expected range for the Canadian Dollar against Sterling is 1.8420-1.8500
The
US Dollar is marginally weaker against the Euro and Sterling but is stronger against the Yen this morning.
In Europe the Greenback traded a little weaker on the strong UK Employment
report, and in Asia the Dollar was stronger as the Chinese posted slightly
better than expected growth numbers and there were rumblings that the Bank of Japan
is going to increase their stimulus
package to try and get inflation back to their 2% target. Currency markets will
remain volatile in the weeks ahead as tensions continue to rise in Ukraine, the
fear is that this contagion will spread to other countries that share borders with
Russia.
The
Canadian Dollar is right where we left it last night and is now ready for the
Bank of Canada interest rate announcement and the Bank’s Monetary Policy
quarterly report later this morning. There is no chance of any changes to the
interest rate policy but it will be interesting to see the bank’s statement,
given that Governor Poloz put his foot in his mouth last month in Halifax which
caused a big drop in the Dollar the markets will be a bit nervous as to what
they are going to say about the economy and possible future interest rate
hikes. I will pay close attention to their inflation forecast as that
particular factor seems to be gaining more prominence on the world stage. I
will send out a currency alert shortly after the announcement with the market
reaction.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0994 | 1.0993 | |||||
| CAD/USD | 0.9096 | 0.9097 | |||||
| EUR/USD | 1.3836 | 1.3797 | |||||
| EUR/CAD | 1.5216 | 1.5169 | |||||
| STG/CAD | 1.8461 | 1.8381 | |||||
| AUD/CAD | 1.0294 | 1.0324 | |||||
| CAD/JPY | 92.94 | 92.61 | |||||
| CAD/CHF | 0.7994 | 0.8012 | |||||
| CAD/HKD | 7.0467 | 7.0482 | |||||
| CAD/CNY | 5.6632 | 5.656 | |||||
| CAD/MXN | 11.8815 | 11.8729 | |||||
| Commodities | |||||||
| Gold | $1,302.00 | $1,303.00 | |||||
| OIL | $104.81 | $103.10 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.79 | 79.74 | |||||
| OPEN | 79.71 | 79.87 | |||||
| US 10YR YIELD | 2.64% | 2.65% | |||||
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