Today's expected range
for the Canadian Dollar against the US Dollar is 1.0790-1.0840
Today's expected range
for the Canadian Dollar against the Euro is 1.4510-1.4560
Today's expected range
for the Canadian Dollar against Sterling is 1.8320-1.8370
The US Dollar is
marginally stronger this morning as the US Dollar index hit a six-week high on
the expectation that the US economy is recovering and the US Federal Reserve
will continue to cut back their stimulus program. The US GDP numbers tomorrow
are expected to be strong so that is giving the Greenback a bit of an early
boost
The big mover
overnight was the New Zealand Dollar as that countries significant dairy
industry indicated milk exports are falling. It is funny to see that the Reserve
Bank of New Zealand is still talking about increasing interest rates while its close
counterpart Australia is talking about cutting interest rates, it could be possible
that we see Aussie and Kiwi trade at parity with each other, this would be a
first for the FX markets if it comes to pass.
The Canadian Dollar is unchanged this morning as it settles into it new levels and with nothing on the Canadian calendar today I don’t expect much of a breakout either side, the Canadian market should remain quiet ahead of tomorrow’s US GDP report and the US Federal Reserve announcement.
Up today we do get US
Consumer Confidence so we could see a little movement if the release surprises
but overall I don’t think it will have too much of an effect.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0806 | 1.0803 | |||||
| CAD/USD | 0.9254 | 0.9237 | |||||
| EUR/USD | 1.3435 | 1.3438 | |||||
| EUR/CAD | 1.4522 | 1.452 | |||||
| STG/CAD | 1.8325 | 1.8349 | |||||
| AUD/CAD | 1.0159 | 1.016 | |||||
| CAD/JPY | 94.32 | 94.24 | |||||
| CAD/CHF | 0.8365 | 0.8364 | |||||
| CAD/HKD | 7.1508 | 7.1516 | |||||
| CAD/CNY | 5.7173 | 5.7377 | |||||
| CAD/MXN | 13.0425 | 12.978 | |||||
| Commodities | |||||||
| Gold | $1,307.00 | $1,305.00 | |||||
| OIL | $101.58 | $101.43 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.03 | 81.03 | |||||
| OPEN | 81.05 | 81.01 | |||||
| US 10YR YIELD | 2.47% | 2.49% | |||||
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