GFX Morning Commentary

Good Morning,

 

Today’s suggested range for the Canadian dollar against the US dollar is 1.0900 – 1.0960

 

Today’s suggested range for the Canadian dollar against the Euro is 1.5040 – 1.5240

 

Today’s suggested range for the Canadian dollar against Sterling is 1.8250 – 1.8350

 

The general US dollar weakness persists with the only slight recovery coming against the Japanese Yen overnight.  The Antipodean currencies AUD and NXD made multi year highs against the greenback. Renewed appetite for emerging markets helped push Asian stock markets near six month highs.

 

In Europe both the Euro and British Pound are holding onto recent gains against the USD and both are pretty much unchanged from our closing levels. The economic calendar in Europe was quiet with attention turning to North America. In Sweden the SEK is weaker after the central bank (Riksbank) sees a greater chance of a near term interest rate cut.

 

The Canadian dollar was held steady overnight trading within our  ranges from yesterday. The economic calendar in Canada is empty today with focus on the U.S. Fed minutes from the March 18-19 meeting at 2pm this afternoon. The market isn’t expecting much from the minutes as the Fed will likely maintain its monthly $10 billion tapering with no sign of an interest rate hike anytime soon. Dow futures are pointing higher by 28 with gold and oil a little softer.

 

Have a great day!

 

GFX Morning Currency Rates
Wednesday April 09, 2014
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0933			1.0925
CAD/USD		0.9147			0.9153
EUR/USD		1.38			1.3764
EUR/CAD		1.5091			1.5038
STG/CAD		1.8305			1.8256
AUD/CAD		1.0241			1.0189
CAD/JPY		93.32			93.85
CAD/CHF		0.8075			0.8109
CAD/HKD		7.0695			7.0757
CAD/CNY		5.6673			5.6704
CAD/MXN		11.9373			11.8804
Commodities
Gold		$1,309.00			$1,315.00
OIL		$102.50			$101.23
US DOLLAR INDEX
P.CLOSE		79.74			80.22
OPEN		79.8			79.98
US 10YR YIELD		2.70%			2.70%