Today's expected range for the Canadian Dollar against the US Dollar is 1.0885-1.0930
Today's expected range
for the Canadian Dollar against the Euro is 1.4550-1.4600
Today's expected range
for the Canadian Dollar against Sterling is 1.8140-1.8190
The US Dollar is
marginally stronger this morning as the Greenback was led higher by a weaker
Sterling. In the UK the July inflation
report came in lower than expected and once again raised fears that deflation
was becoming a bigger concern. On Sunday you had the BOE Governor hinting at
higher rates and then you get a reading like this that will put a cap on any
interest rate hike, you just wish that government officials would get there
story straight. Markets will continue to sell Sterling in the short-term until
the Bank of England can give a clear signal on what it wants to do.
USD.CAD continues to
sit on the sidelines as it trades in very narrow ranges, and barring any
economic surprises South of the border will most likely remain in tight ranges
for the next few days. The Loonie has been able to make some gains against
Sterling with the weakness in that currency, if it holds its own against the US
the Loonie should be able to extend those gains in the coming days. The Loonie
is also stronger against the Euro but it is not moving as much as it is against
the Pound.
Up today we have the
release of the US CPI report for July with the expectation for a year-over-year
inflation rate of 2.0% which would be down slightly over the June report of
2.1%. If we get a report that comes in below expectation then look for USD.CAD
to drop significantly.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0903 | 1.0884 | |||||
| CAD/USD | 0.9172 | 0.9188 | |||||
| EUR/USD | 1.3347 | 1.3384 | |||||
| EUR/CAD | 1.4554 | 1.457 | |||||
| STG/CAD | 1.8151 | 1.8204 | |||||
| AUD/CAD | 1.0181 | 1.0145 | |||||
| CAD/JPY | 94.11 | 94.11 | |||||
| CAD/CHF | 0.8314 | 0.8307 | |||||
| CAD/HKD | 7.0871 | 7.0995 | |||||
| CAD/CNY | 5.632 | 5.6442 | |||||
| CAD/MXN | 11.9713 | 13.0853 | |||||
| Commodities | |||||||
| Gold | $1,301.00 | $1,302.00 | |||||
| OIL | $96.68 | $96.37 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.57 | 81.49 | |||||
| OPEN | 81.67 | 81.46 | |||||
| US 10YR YIELD | 2.37% | 2.36% | |||||
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