GFX Morning FX Commentary

Good Morning,

Today's expected range for the Canadian Dollar against the US Dollar is 1.0890-1.0940

Today's expected range for the Canadian Dollar against the Euro is 1.4840-1.4900

Today's expected range for the Canadian Dollar against Sterling is 1.8320-1.8380   

The US Dollar is unchanged for the most part in quiet in overnight trading. The Japanese Yen was the biggest mover last night as they reported  a smaller trade surplus which helped push the Yen lower. With no economic news of note the Euro and Sterling were pretty much right where we left them on Friday afternoon, both currencies did trade a bit stronger during the overnight session but were not able to hold onto the gains.

The Canadian Dollar is marginally stronger from its weakest Friday level against the US Dollar. The Loonie did not fair that well after the poor Canadian Employment report on Friday and looks set to start range trading over the next week.

There is little on the economic calendar this week that will upset the apple cart so I think we should have a relatively stable week with USD.CAD trading in tight ranges. Overall I still favour a move higher for USD.CAD but it may take a while to start moving.

Have a great week

Mike

GFX Morning Currency Rates
Monday June 09, 2014
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0921			1.0922
CAD/USD		0.9167			0.9155
EUR/USD		1.3621			1.363
EUR/CAD		1.4878			1.4891
STG/CAD		1.8358			1.8366
AUD/CAD		1.0278			1.0212
CAD/JPY		93.78			93.67
CAD/CHF		0.8193			0.8174
CAD/HKD		7.0759			7.0756
CAD/CNY		5.7107			5.7161
CAD/MXN		11.8494			11.8071
Commodities
Gold		$1,258.00			$1,253.00
OIL		$103.24			$102.71
US DOLLAR INDEX
P.CLOSE		80.43			80.38
OPEN		80.5			80.44
US 10YR YIELD		2.61%			2.56%