Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0925-1.0975
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 1.8360-1.1.8410
The
US Dollar is marginally stronger this morning against the Euro and Sterling, with
the lack of key economic reports being released this week geo-political worries
are starting to influence the currency markets. This morning there are reports that
a 300 truck convoy is headed to Ukraine from Moscow which the Russians are
saying contains humanitarian aid, I would guess not many world leaders believe
that. The Euro is also lower on a very poor German ZEW business survey that came
in much weaker than expected, if the German business market starts to get
worried about the overall health of the EU economy then we will see the Euro
take a big hit.
The
Canadian Dollar is slightly weaker against the Greenback this morning in very
light overnight trading conditions, from looking at it the Loonie had a bigger
trading range in the Asian market than it did in London time. The Loonie did
extend a bit of a rally yesterday as our housing data was better than expected
but like most rallies these days it was not able to extend into a significant
gain. It just highlights my theory that US Dollar buyers need to be ready to
jump any time we see US Dollar weakness, the overall trend is still for the US
Dollar to move higher.
With
no economic releases expected today I think we will have a narrow trading range
and the market should be quiet. US Dollar buyers should have their orders in
around the 1.0925 level to try and grab some US on any further pullback
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0944 | 1.0963 | |||||
| CAD/USD | 0.9137 | 0.9121 | |||||
| EUR/USD | 1.3338 | 1.3389 | |||||
| EUR/CAD | 1.4598 | 1.468 | |||||
| STG/CAD | 1.837 | 1.8397 | |||||
| AUD/CAD | 1.0135 | 1.0156 | |||||
| CAD/JPY | 93.46 | 93.13 | |||||
| CAD/CHF | 0.8314 | 0.8267 | |||||
| CAD/HKD | 7.0608 | 7.0488 | |||||
| CAD/CNY | 5.6243 | 5.6125 | |||||
| CAD/MXN | 12.0883 | 12.1014 | |||||
| Commodities | |||||||
| Gold | $1,312.00 | $1,309.00 | |||||
| OIL | $97.25 | $97.72 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.45 | 81.46 | |||||
| OPEN | 81.66 | 81.4 | |||||
| US 10YR YIELD | 2.43% | 2.43% | |||||
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