GFX Morning FX Commentary

Good Morning,

 

Today’s suggested range for the Canadian dollar against the US is 1.1180 – 1.1240

 

Today’s suggested range for the Canadian dollar against the Euro is 1.4140 – 1.4220

 

Today’s suggested range for the Canadian dollar against Sterling is 1.7950 – 1.8030

 

 

The USD index is unchanged with most major currency pairs holding to tight ranges overnight in lacklustre trading. The market going into the weekend seems content on the sidelines with little news on the  economic front today.

 

The British pound was able to stave off a three day decline against the greenback as GDP figures in the U.K. came in line with expectations rising 0.7% in the three months through September. The Euro is basically unchanged from our closing level as investors are still waiting on the EU bank stress tests which should be coming out this Sunday.

 

The Canadian dollar is slightly firmer from our close against its U.S. counterpart and stronger in the crosses. The only economic release today in North America is U.S. new home sales for September. The lack of urgency in the market today could make for uneventful trading. Dow futures are pointing lower by 35 with oil off slightly and some profit taking in gold has bullion edging higher. The focus could already be turning to the Fed’s interest rate announcement next Wednesday and the end of quantitative easing which could make stocks vulnerable again.

 

Have a great weekend!

 

GFX Morning Currency Rates
Friday October 24th 2014
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.1215			1.124
CAD/USD		0.8417			0.8896
EUR/USD		1.2652			1.267
EUR/CAD		1.4191			1.4244
STG/CAD		1.7985			1.8002
AUD/CAD		0.9846			0.9873
CAD/JPY		96.42			95.57
CAD/CHF		0.8496			0.8468
CAD/HKD		7.7377			6.8794
CAD/CNY		5.454			5.4422
CAD/MXN		12.1006			12.0601
Commodities
Gold		$1,232.00			$1,240.00
OIL		$81.38			$80.74
US DOLLAR INDEX
P.CLOSE		85.84			85.75
OPEN		85.83			85.69
US 10YR YIELD		2.25%			2.23%