Good Morning,
Today’s suggested range for
the Canadian dollar against the US is 1.1200 – 1.1260
Today’s suggested range for
the Canadian dollar against the Euro is 1.4220 – 1.4300
The US dollar is mostly
firmer due to the weakness in the European single currency. The Euro is under
pressure for a second consecutive day as the market is bracing for more
stimulus in the form of additional quantitative easing. The other development
making the Euro uneasy is rumours that as many as 11 Eurozone banks are set to
fail the ECB’s stress tests.
The British pound is also
weaker as the latest minutes from the Bank of England showed increased risks to
the economy brought on by the slumping Eurozone. The reference made by the BOE
reduces any possibility of a short term rate hike.
The Canadian dollar is
holding onto to its short term gains ahead of the Bank of Canada monetary
policy statement today. The central bank is expected to hold its
interest rate at 1% which it has remained at for the past four years. The BOC
is likely seen to continue sending a cautious message on the economy given the
global slowdown and the impact on exports.
The economic releases ahead
of the BOC announcement at 10:00am this morning is U.S. consumer price index
for September with expectations for a rise of 1.6% y/y down from the previous
month of 1.7%. Also due out this morning is CAD retail sales for August last
down 0.1% with expectations for a 0.2% gain. The Dow futures are flat with oil
edging higher and gold slightly lower on a stronger greenback.
Have a great day!
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GFX Morning Currency Rates
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Wednesday October 22, 2014
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Currencies
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7:00am
Today's Opening
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Yesterday's
Opening
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USD/CAD
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1.1238
|
1.1253
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CAD/USD
|
0.8898
|
0.8886
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EUR/USD
|
1.2694
|
1.2762
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EUR/CAD
|
1.4267
|
1.4362
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STG/CAD
|
1.804
|
1.8171
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AUD/CAD
|
0.9875
|
0.9906
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CAD/JPY
|
95.18
|
94.91
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CAD/CHF
|
0.8451
|
0.84
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CAD/HKD
|
6.8815
|
6.8705
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CAD/CNY
|
5.4417
|
5.4393
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CAD/MXN
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12.0744
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12.041
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Commodities
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Gold
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$1,246.00
|
$1,248.00
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OIL
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$82.71
|
$83.19
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US
DOLLAR INDEX
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P.CLOSE
|
85.33
|
84.97
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OPEN
|
85.54
|
85.14
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US
10YR YIELD
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2.19%
|
2.20%
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