Today’s expected range for the Canadian Dollar against the US Dollar is 1.0950-1.1020
Today’s
expected range for the Canadian Dollar against the Euro is 1.4140-1.4220
Today’s
expected range for the Canadian Dollar against Sterling is 1.7930-1.8000
The
US Dollar is marginally weaker this
morning as the currency markets prepare for the results of the Scottish
referendum and react to the US Federal Reserve comments from yesterday. In their
statement the Fed left the words “considerable time” in place which most market
watchers now think means the Fed won’t increase interest rates until at least
June, there is still lots of slack in the US economy and lots of jobs yet to be
created before the Fed changes policy.
The
polls are now open in Scotland but according to news reports we are not
expecting final results until around Midnight/1:00 am Toronto time, keep in
mind a yes vote will bring increased volatility to the currency markets affecting
all currency pairs including USD.CAD. If you want to take away some of the uncertainty
of the market make sure that you get your orders in early.
The
Canadian dollar had a busy night trading in a
wide range with the Loonie giving up some of its gains from yesterday,
as I mentioned yesterday I was not surprised that the Loonie could not hold
onto the strength it had from the Poloz comments, that type of movement rarely
holds in place for long. The Loonie continues to hold in against the Euro and
Sterling as it continues to benefit from weakness in those currencies.
In
addition to the Vote we get some secondary US data but overall we should have a
relatively stable day but I would expect a very busy night, on a yes vote there
is no reason not to think that we could see USD.CAD above 1.1100 tomorrow.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.098 | 1.0965 | |||||
| CAD/USD | 0.9107 | 0.912 | |||||
| EUR/USD | 1.2877 | 1.2955 | |||||
| EUR/CAD | 1.414 | 1.4206 | |||||
| STG/CAD | 1.793 | 1.7878 | |||||
| AUD/CAD | 0.9847 | 0.994 | |||||
| CAD/JPY | 98.95 | 97.85 | |||||
| CAD/CHF | 85.4 | 0.8517 | |||||
| CAD/HKD | 7.0395 | 7.0484 | |||||
| CAD/CNY | 5.5912 | 5.5968 | |||||
| CAD/MXN | 12.0592 | 12.0269 | |||||
| Commodities | |||||||
| Gold | $1,224.00 | $1,238.00 | |||||
| OIL | $94.38 | $94.77 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 84.6 | 84.07 | |||||
| OPEN | 84.55 | 84.07 | |||||
| US 10YR YIELD | 2.61% | 2.57% | |||||
No comments:
Post a Comment