Today's expected range
for the Canadian Dollar against the US Dollar is 1.0710-1.0760
Today's expected range
for the Canadian Dollar against the Euro is 1.4620-1.4670
Today's expected range
for the Canadian Dollar against Sterling is 1.8330-1.8380
The US Dollar is
marginally weaker this morning, the Euro is a touch higher as the concerns
about a possible bank failure in Portugal seem to be fading. The Euro was also
boosted as beer sales throughout Germany soared yesterday helping to boost the
German economy. Hats off to all German fans, they will have to be an early favourite
to win in Russia in 4 years’ time.
The Canadian Dollar
has now settled into its new trading range above as it weakened off after
Friday's very poor Canadian Employment report. The Loonie really suffered as
USD.CAD is now almost 100 points higher from its lowest levels over the past
few weeks, against both Sterling and Euro the Loonie is now as weak as it has
been in the past month. Clearly not a pretty picture for the Canadian economy and
in particular Ontario as this province lost the most jobs.
This week trading
activity will be dominated by North American Central Bankers, on Wednesday we
get the Bank of Canada interest rate policy announcement and the Banks’s quarterly
monetary policy review. Tomorrow the US Federal Reserve begins their two-day meeting
and Fed Chairperson Yellen testifies before congress this week. Currency
traders will be looking for direction from the central banks as to what they
are going to do with slowing economies.
With nothing of
significance on the economic front today I look for USD.CAD to consolidate its
move from Friday and we should range trade for the next little while as the
Loonie awaits the next move.
Have a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0734 | 1.0632 | |||||
| CAD/USD | 0.9316 | 0.9405 | |||||
| EUR/USD | 1.3628 | 1.3609 | |||||
| EUR/CAD | 1.463 | 1.4469 | |||||
| STG/CAD | 1.837 | 1.822 | |||||
| AUD/CAD | 1.0086 | 0.9998 | |||||
| CAD/JPY | 94.49 | 95.26 | |||||
| CAD/CHF | 0.8295 | 0.839 | |||||
| CAD/HKD | 7.1984 | 7.2879 | |||||
| CAD/CNY | 5.7794 | 5.8334 | |||||
| CAD/MXN | 12.1305 | 12.2174 | |||||
| Commodities | |||||||
| Gold | $1,323.00 | $1,337.90 | |||||
| OIL | $100.48 | $102.60 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 80.18 | 80.13 | |||||
| OPEN | 80.15 | 80.12 | |||||
| US 10YR YIELD | 2.52% | 2.52% | |||||
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