Today's expected range
for the Canadian Dollar against the US Dollar is 1.0720-1.0770
Today's expected range
for the Canadian Dollar against the Euro is 1.4600-1.4650
Today's expected range
for the Canadian Dollar against Sterling is 1.8220-1.8270
The US Dollar is marginally
stronger in quiet overnight trading conditions. The Pound continues to give up
some gains as investors are starting to think that the Pound was pushed too
high on this past run. The Pound was also hit this morning by poorer than
expected Retail Sales report, given the latest comments from the Bank of
England it is more than likely that Sterling will trade with a weak bias over
the short-term.
Given the current
situation in Europe the Euro is fairing quite well at the moment hanging in
around the 1.3600 level against the Greenback. I think it will eventually break
lower but for now US Dollar weakness is giving it some support.
The Canadian Dollar
gave back a little strength last night but still trades in a narrow band below
the 1.0800 level. The Loonie was able to pick up some gains both against the
Euro and Sterling so the currency continues to do well against those
currencies.
We should have a busy
morning as we get a slew of economic stats out of the US headlined by the GDP
report for the 1st quarter. Given the relatively weak US data we
have seen lately I am not surprised that the expectation for the GDP report is going
to show a negative number. The expectation is for a drop in growth of -1.8% on
an annualized basis so if it is greater than that we could see some fireworks.
If we do get a big movement I will send out a currency alert.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0732 | 1.0726 | |||||
| CAD/USD | 0.9318 | 0.9323 | |||||
| EUR/USD | 1.3602 | 1.3627 | |||||
| EUR/CAD | 1.4606 | 1.4611 | |||||
| STG/CAD | 1.8222 | 1.8233 | |||||
| AUD/CAD | 1.0057 | 1.0081 | |||||
| CAD/JPY | 94.9 | 94.96 | |||||
| CAD/CHF | 83.26 | 0.8327 | |||||
| CAD/HKD | 7.1979 | 7.2057 | |||||
| CAD/CNY | 5.8062 | 5.807 | |||||
| CAD/MXN | 12.1489 | 12.1632 | |||||
| Commodities | |||||||
| Gold | $1,313.90 | $1,324.00 | |||||
| OIL | $106.25 | ||||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.31 | 80.34 | |||||
| OPEN | 80.4 | 80.22 | |||||
| US 10YR YIELD | 2.58% | 2.60% | |||||
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