Today's expected range
for the Canadian Dollar against the US Dollar is 1.1080-1.1150
Today's expected range for the Canadian Dollar against the Euro is 1.4130-1.4200
Today's expected range
for the Canadian Dollar against Sterling is 1.8110-1.8180
The US Dollar is
stronger this morning reaching its highest level against the Euro since November
of 2012 as currency traders still are still betting that the US Federal Reserve
will increase interest rates next year while the Euro-Zone is still being
forced to cut rates and add stimulus. The markets are also reacting to strong
US economic data, yesterday we were expecting US New home Sales to have jumped
4.4% in fact they jumped 18% so clearly the US recovery is really picking up
steam. The biggest currency mover overnight was the New Zealand Dollar which
dropped to a new yearly low as that Central Bank indicated then may intervene
in the currency markets, the Kiwi Dollar has fallen over 4% this month alone
against the US so it is clearly getting hammered at the moment.
With the stronger US
Dollar overnight the Loonie gave back all its gains from yesterday afternoon
and USD.CAD is back higher this morning looking to make a clear break of the
1.1100 level, there is nothing that I can see on the horizon that would
indicate any prolonged Canadian Dollar strength so US Dollar buyers need to try
and protect themselves on any potential pullbacks.
Up today we have the release
of the US Durable Goods report and that number can be quite volatile so we are
looking for continued movement in USD.CAD.
As the afternoon goes on currency traders will get set up for the
release of tomorrow’s US 2nd Quarter GDP report which is expected to
confirm accelerated growth in the US.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1112 | 1.107 | |||||
| CAD/USD | 0.8999 | 0.9033 | |||||
| EUR/USD | 1.2722 | 1.2844 | |||||
| EUR/CAD | 1.4134 | 1.4221 | |||||
| STG/CAD | 1.8116 | 1.8166 | |||||
| AUD/CAD | 0.9743 | 0.9831 | |||||
| CAD/JPY | 98.26 | 98.07 | |||||
| CAD/CHF | 85.4 | 0.8488 | |||||
| CAD/HKD | 6.9561 | 6.9807 | |||||
| CAD/CNY | 5.5204 | 5.5398 | |||||
| CAD/MXN | 12.006 | 11.995 | |||||
| Commodities | |||||||
| Gold | $1,210.00 | $1,223.00 | |||||
| OIL | $92.82 | $91.40 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 85.04 | 84.65 | |||||
| OPEN | 85.4 | 84.67 | |||||
| US 10YR YIELD | 2.55% | 2.54% | |||||
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