Today's expected range
for the Canadian Dollar against the US Dollar is 1.0980-1.1040
Today's expected range
for the Canadian Dollar against the Euro is 1.5160-1.5220
Today's expected range
for the Canadian Dollar against Sterling is 1.8310-1.8370
The US Dollar is
marginally stronger this morning in quiet trading conditions, both the Euro and
Sterling are slightly weaker against the Greenback but in reality they are
almost exactly right where we left them at the Toronto close. In Europe the EU
Producer Price index came in slightly below expectation indicating once again that
inflation is not on anyone’s radar, tomorrow the ECB make its interest rate
announcement and it is expected in the absence of any inflation that they will
hold interest rates at 0.25% but that they may introduce other stimulus
measures to spur on the EU economy. In the UK the numbers keep supporting a
recovery, this morning it was the UK Construction firms reporting strong
numbers, it is tough to imagine Sterling trading much weaker at the moment.
The Canadian Dollar
continues to trade in between the 1.1000 to 1.1100 wide trading range and once
again USD.CAD looks like it wants to trade below the 1.1000 level this morning,
it has tried two times now to reach that level and each time it has been buffed.
If it does not get through on a third attempt then I think we will see the rate
head back towards 1.1100.
Up today we get some
secondary data out of the US including the ADP private employment report and US
factory orders. They are the first real numbers of the new month and should be
coming after the downturn caused by some of the winter storms, ADP is looking
for an uptick in employment of 190K new jobs which would be a positive number
for the US Dollar. The more important US Department of Labour Employment report
will be released on Friday.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1019 | 1.1063 | |||||
| CAD/USD | 0.9075 | 0.9039 | |||||
| EUR/USD | 1.3786 | 1.3794 | |||||
| EUR/CAD | 1.5193 | 1.5263 | |||||
| STG/CAD | 1.8334 | 1.842 | |||||
| AUD/CAD | 1.0187 | 1.0222 | |||||
| CAD/JPY | 94.1 | 93.41 | |||||
| CAD/CHF | 0.8023 | 0.7977 | |||||
| CAD/HKD | 7.0181 | 6.9901 | |||||
| CAD/CNY | 5.6296 | 5.6105 | |||||
| CAD/MXN | 11.8677 | 11.8174 | |||||
| Commodities | |||||||
| Gold | $1,284.00 | $1,285.00 | |||||
| OIL | $99.26 | $101.37 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.08 | 80.06 | |||||
| OPEN | 80.09 | 80.06 | |||||
| US 10YR YIELD | 2.77% | 2.74% | |||||
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