Today's expected range
for the Canadian Dollar against the US Dollar is 1.1150-1.1220
Today's expected range
for the Canadian Dollar against the Euro is 1.4100-1.4170
Today's expected range
for the Canadian Dollar against Sterling is 1.7980-1.8050
The US Dollar is
stronger this morning as both Euro and Sterling are well off their highs from
yesterday, the Dollar is picking up steam on the back of expectation that the
US economy will have created some 215K new jobs last night month. The
expectation is that a very strong labour market will lead the Federal Reserve
to increase interest rates in the first quarter of 2015 which will continue to
push the Greenback higher. Trading was a little light last night as a number of
financial centers were on holiday, this factor may add some volatility around
the release of the jobs report this morning.
The rally that was the
Canadian Dollar on Wednesday night is now gone and USD.CAD is right back where
it was before the big drop in USD.CAD, the trend for currency pair to move
higher is still intact. Last night saw USD.CAD slowly move higher in a narrow
range in reaction to the overall strong US Dollar, if we get a very strong US
Jobs report today look for the inter-bank rate to jump back above 1.12000, a
negative report will help push the rate back lower.
In addition to the US
jobs report out this morning we have more manufacturing data out of the US and we
have some Canadian Trade data, the Canadian jobs report will be due out next
Friday. Either way I think we will have a volatile morning and then the market
will stabilize as the week winds down.
Have a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.1178 | 1.1121 | |||||
| CAD/USD | 0.8946 | 0.8992 | |||||
| EUR/USD | 1.2616 | 1.2636 | |||||
| EUR/CAD | 1.4105 | 1.4055 | |||||
| STG/CAD | 1.7966 | 1.7955 | |||||
| AUD/CAD | 0.9778 | 0.9761 | |||||
| CAD/JPY | 97.44 | 97.63 | |||||
| CAD/CHF | 0.8568 | 0.8593 | |||||
| CAD/HKD | 6.9197 | 6.9602 | |||||
| CAD/CNY | 5.485 | 5.5181 | |||||
| CAD/MXN | 12.0138 | 12.0877 | |||||
| Commodities | |||||||
| Gold | $1,207.00 | $1,214.00 | |||||
| OIL | $90.79 | $88.71 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 85.65 | 85.92 | |||||
| OPEN | 85.98 | 85.79 | |||||
| US 10YR YIELD | 2.44% | 2.40% | |||||
No comments:
Post a Comment