Today's expected range
for the Canadian Dollar against the US Dollar is 1.1000-1.1060
Today's expected range
for the Canadian Dollar against the Euro is 1.5220-15300
Today's expected range
for the Canadian Dollar against Sterling is 1.8500-1.8560
The US Dollar is
marginally weaker against the Euro and Sterling this morning but in reality it
is not far off the levels we left when Toronto closed last night, volatility seems
to have left not just Canadian Dollar trading but the overall currency markets
are very quiet. Even with the situation rising in Ukraine, concerns about
global growth and inflation do not seem to have any effect on the currency
markets at the moment.
The only news of note
was out of New Zealand where the Reserve Bank of New Zealand again raised
interest rates, the Kiwi dollar quickly rallied against the US Dollar on the
news but in signs that the currency markets just don’t care all the that
strength quickly dissipated and the currency went right back to
pre-announcement levels. In Germany the IFO report ( a measure of the business
climate in Germany) came in better than expected but even that got little
reaction out of currency traders.
The Canadian Dollar
continues to trade in very narrow ranges and most likely will continue to do so
over the short-term, I still favour the move higher for USD.CAD but so far it
has been a tough grind. Up today we do get the release of the US Durable Goods report
for March, if that surprises we may see some early activity but I would not
count on it.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1017 | 1.1033 | |||||
| CAD/USD | 0.9077 | 0.9064 | |||||
| EUR/USD | 1.3823 | 1.3836 | |||||
| EUR/CAD | 1.5234 | 1.5268 | |||||
| STG/CAD | 1.8501 | 1.8534 | |||||
| AUD/CAD | 1.021 | 1.0247 | |||||
| CAD/JPY | 92.93 | 92.63 | |||||
| CAD/CHF | 0.8011 | 0.7988 | |||||
| CAD/HKD | 7.0312 | 7.0216 | |||||
| CAD/CNY | 5.6694 | 5.6529 | |||||
| CAD/MXN | 11.8847 | 11.8423 | |||||
| Commodities | |||||||
| Gold | $1,279.00 | $1,286.00 | |||||
| OIL | $101.86 | $101.36 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 79.86 | 79.9 | |||||
| OPEN | 79.8 | 79.74 | |||||
| US 10YR YIELD | 2.70% | 2.70% | |||||
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