Today's expected range
for the Canadian Dollar against the US Dollar is 1.0870-1.0970
Today's expected range
for the Canadian Dollar against the Euro is 1.4320-1.4420
Today's expected range
for the Canadian Dollar against Sterling is 1.7930-1.8030
The US Dollar is
marginally weaker this morning as he Euro has jumped a little on the News that
Russian President Putin and Ukrainian President Poroshenko have agreed
to a cease fire. I am not quite sure how Putin can agree to a ceasefire given
that Russia is not involved in the crisis but there you have it. Both the Euro
and Sterling should hold their current value as the market awaits the
announcements from the European Central Bank and the Bank of England tomorrow.
Of the two currencies Sterling may be the most active as there is an outside
chance that the BOE could increase interest rates.
The Canadian Dollar
recovered a little of its strength last night, USD.CAD moved steadily higher
through the day yesterday but with the weaker US Dollar overnight the Loonie
was able to pull back a little bit.
Trading today will be
dominated by the Bank of Canada interest rate announcement at 10:00 am. With a
zero chance of an interest rate hike currency traders will be looking to the
Bank's statement on the economy. I have no expectation one way or the other, I
think this will be a neutral statement but if it is overly negative USD.CAD
will jump higher and just the opposite if the statement is overly positive on
the economy. I will as always send out a currency alert after the announcement.
In addition to the BOC
we have the some secondary data out of the US including the Institute of
Supply management Business survey and the Federal Reserve beige Book which is a
summary of the recent events in the US economy, we should be in for a very busy
day.
Have a great day.
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.09 | 1.0914 | |||||
| CAD/USD | 0.9174 | 0.9162 | |||||
| EUR/USD | 1.3149 | 1.3114 | |||||
| EUR/CAD | 1.4336 | 1.4314 | |||||
| STG/CAD | 1.7969 | 1.8045 | |||||
| AUD/CAD | 1.0169 | 1.0135 | |||||
| CAD/JPY | 96.34 | 96.11 | |||||
| CAD/CHF | 0.842 | 0.843 | |||||
| CAD/HKD | 7.0871 | 7.0799 | |||||
| CAD/CNY | 5.6343 | 5.9071 | |||||
| CAD/MXN | 12.0043 | 12.0234 | |||||
| Commodities | |||||||
| Gold | $1,269.00 | $1,271.00 | |||||
| OIL | $93.69 | $95.16 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 82.97 | 82.74 | |||||
| OPEN | 82.87 | 82.96 | |||||
| US 10YR YIELD | 2.46% | 2.38% | |||||
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