Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0840-1.0890
Today’s
expected range for the Canadian Dollar against the Euro is 1.4720-1.4770
Today’s
expected range for the Canadian Dollar against Sterling is 1.8420-1.8470
The
US Dollar is marginally stronger this morning as the UK inflation report
dropped to its lowest rate in 4 ½ years today, this quickly dampened
speculation of an imminent interest rate hike by the Bank of England. The Euro traded
a little lower in a tight range in sympathy with the Pound in an overall quiet trading
range. The Pound has recovered to pre-announcement levels early this morning so
investors cannot be that worried that the BOE won’t raise interest rates soon,
bets are on that they will be the first major Western economy to increase interest
rates.
The
Canadian Dollar is a little stronger this morning off of it weakest levels from
yesterday but is still trading in relatively narrow trading ranges and not breaking
any new ground, I think to get the market moving again we need either a clean
break below 1.0800 or above 1.0950 but for the moment I see USD.CAD trading within
this range.
Up
today we get the US CPI index where we are expecting an inflation rate of 0.2%
for the month of May and a year-over-year rate of 1.9%, a reading of close to
2.0% should keep the US Federal Reserve on track, reducing the amount of their
stimulus program by the $10 billion a month. Unless we get a big surprise on
the number USD.CAD will most likely continue to trade within the existing
range.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0856 | 1.0867 | |||||
| CAD/USD | 0.9211 | 0.9202 | |||||
| EUR/USD | 1.3566 | 1.3541 | |||||
| EUR/CAD | 1.4731 | 1.4717 | |||||
| STG/CAD | 1.8492 | 1.8433 | |||||
| AUD/CAD | 1.0161 | 1.0197 | |||||
| CAD/JPY | 93.88 | 93.7 | |||||
| CAD/CHF | 0.827 | 0.827 | |||||
| CAD/HKD | 7.1181 | 7.1118 | |||||
| CAD/CNY | 5.731 | 5.7262 | |||||
| CAD/MXN | 12.0356 | 12.02 | |||||
| Commodities | |||||||
| Gold | $1,266.00 | $1,280.00 | |||||
| OIL | $106.28 | $107.00 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.45 | 80.65 | |||||
| OPEN | 80.5 | 80.6 | |||||
| US 10YR YIELD | 2.59% | 2.58% | |||||
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