Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0950-1.1000
Today’s
expected range for the Canadian Dollar against the Euro is 1.4540-1.4590
Today’s expected range for the Canadian Dollar against Sterling is 1.8190-1.8250
The
US Dollar is marginally stronger this morning as the release of the US Federal
Reserve minutes have given the US Dollar a boost. In the minutes the policy
makers seemed to tie any interest rate hike to the labour market, if they see
an increased number of jobs being created then they will move quickly to start
to remove the stimulus and increase rates. With inflation in and around the
2.0% level this places extra emphasis on the monthly employment report but at
the very least the US Dollar should remain supported over the short-term.
The Canadian Dollar is marginally weaker against its US counterpart as the strong US Dollar trend slowly pushes the Canadian Dollar down. I would not be surprised if USD.CAD stalled at these levels for a little while, we have come a long way over a sort period of time and it may be time for a pause and perhaps a bit of a pullback. If I am right and we do get some respite, US Dollar buyers need to be ready with their orders.
Up
today we have a slew of US Secondary data that should all be positive for the
economy and could push USD.CAD a little higher if they greatly exceed
expectation.
I
will be out of the office for the next couple of days but will be checking
emails on my Blackberry.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0973 | 1.0955 | |||||
| CAD/USD | 0.9113 | 0.9129 | |||||
| EUR/USD | 1.3263 | 1.3278 | |||||
| EUR/CAD | 1.4552 | 1.4545 | |||||
| STG/CAD | 1.8198 | 1.8227 | |||||
| AUD/CAD | 1.0185 | 1.0174 | |||||
| CAD/JPY | 94.58 | 94.32 | |||||
| CAD/CHF | 0.8318 | 0.8318 | |||||
| CAD/HKD | 7.0441 | 7.0537 | |||||
| CAD/CNY | 5.6049 | 5.6029 | |||||
| CAD/MXN | 11.9559 | 11.9433 | |||||
| Commodities | |||||||
| Gold | $1,283.00 | $1,295.00 | |||||
| OIL | $92.78 | $95.90 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 82.27 | 81.86 | |||||
| OPEN | 82.23 | 82.11 | |||||
| US 10YR YIELD | 2.44% | 2.40% | |||||
No comments:
Post a Comment