GFX Morning Commentary

Good Morning,

Today's expected range for the Canadian Dollar against the US Dollar is 1.0720-1.0760

Today's expected range for the Canadian Dollar against the Euro is 1.4570-1.4620

Today's expected range for the Canadian Dollar against Sterling is 1.8250-1.8300

The US Dollar is weaker this morning as the Greenback continues to trade with a weakening bias after Fed Chairperson Yellen indicated that interest rates will remain low for a prolonged period of time, the Pound was once again higher as it reached highs last seen in 2008. The Euro is under pressure as the Manufacturing PMI report fell more than expected, further evidence that the ECB will need to provide even more stimulus at their next meeting.

In the Far East Australian and New Zealand Dollar both jumped as the Chinese economy produced better than expected manufacturing data as those economies are very dependent on business with China.

The Canadian Dollar continues to hold onto its gains against the Greenback that it recorded on Friday following the strong inflation data and with the US going through a weakening bias we may see the Loonie make further gains against its Southern neighbor.

Up today we get manufacturing data out of the US and we are not expecting all that great a number so we may see USD.CAD take a run lower at some point.

Have a great week

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0732			1.0817
CAD/USD		0.9318			0.9245
EUR/USD		1.3582			1.3603
EUR/CAD		1.4578			1.4714
STG/CAD		1.8267			1.8442
AUD/CAD		1.0134			1.016
CAD/JPY		94.87			94.32
CAD/CHF		0.8344			0.8264
CAD/HKD		7.201			7.1449
CAD/CNY		5.7984			5.7526
CAD/MXN		12.1319			12.0522
Commodities
Gold		$1,312.00			$1,310.00
OIL		$107.00			$106.58
US DOLLAR INDEX
P.CLOSE		80.42			80.33
OPEN		80.37			80.35
US 10YR YIELD		2.60%			2.62%