Today's expected range
for the Canadian Dollar against the US Dollar is 1.0840-1.0900
Today's expected range
for the Canadian Dollar against the Euro is 1.4760-1.4820
Today's expected range
for the Canadian Dollar against Sterling is 1.8170-1.8240
The US Dollar is
marginally stronger this morning as the Euro is trading weaker (a 3-month low
against the US Dollar) on a poor German employment report and also a report
that bank lending fell last month in Germany, more clear evidence that the ECB
will provide stimulus next month. The biggest drop overnight was recorded by
Sterling which almost 50 points against the US, there does not seem to be any
great reason for the drop has there was no UK news out this morning so it may
have been a move in sympathy with the Euro.
In China the Yuan
dropped the most it has in weeks as Chinese officials keep raising the band
that the currency trades within. Despite all the talk about a free floating
currency someday, Chinese officials keep taking their currency lower to cheapen
their exports, a move which will surely aggravate the Americans.
The Canadian Dollar once
again showed a small amount of strength overnight but quickly gave that back
this morning as it continues to trade in tight overnight ranges. With the weakness
in the Euro and Sterling overnight the Loonie continues to outperform those
currencies. There is nothing on the economic calendar today so I am just
looking for more of the same, a limited amount of Canadian Dollar strength confined
to recent ranges. Activity should pick
up tomorrow when the first of the North American GDP reports is issued.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0853 | 1.084 | |||||
| CAD/USD | 0.9214 | 0.9225 | |||||
| EUR/USD | 1.362 | 1.3645 | |||||
| EUR/CAD | 1.4765 | 1.4792 | |||||
| STG/CAD | 1.8189 | 1.824 | |||||
| AUD/CAD | 1.0028 | 1.0037 | |||||
| CAD/JPY | 93.87 | 94.01 | |||||
| CAD/CHF | 0.8268 | 0.8259 | |||||
| CAD/HKD | 7.1378 | 7.1471 | |||||
| CAD/CNY | 5.7607 | 5.761 | |||||
| CAD/MXN | 11.8841 | 11.9005 | |||||
| Commodities | |||||||
| Gold | $1,265.00 | $1,284.00 | |||||
| OIL | $104.21 | $104.03 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.36 | 80.28 | |||||
| OPEN | 80.44 | 80.27 | |||||
| US 10YR YIELD | 2.50% | 2.54% | |||||
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