Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1340-1.1400
Today’s
expected range for the Canadian Dollar against the Euro is 1.3990-1.4050
Today’s
expected range for the Canadian Dollar against Sterling is 1.7820-1.7880
The
US Dollar is marginally stronger this morning as the currency markets get set
for Central Bank announcements this morning. The Greenback reached its highest
level since July of 2007 against the Japanese Yen as it traded within a hair of
the 120.00 level, Japan will stay in recession for a while yet so the Yen will
remain under pressure. In Europe the Euro is slightly weaker as speculation
grows that they ECB will announce more stimulus measures this morning to try
and help that economy, all currency markets will be watching what ECB Governor
Draghi announces in his speech this morning. The Bank of England also announces
on interest rates this morning but they are not expected to make any changes to
their policy.
Not
much overnight change in USD.CAD, yesterday the Loonie did make some small
gains on the Bank of Canada comments, in the middle of their text there were
veiled comments about the output Gap ( a measure of capacity in the economy)
reducing quicker than they had expected, a comment most market pundits have
taken to mean that interest rates hikes may happen sooner than later next year.
Oil continues to stabilize between $66 and $69 for the moment so that should
give the Loonie some time to regroup and find its next direction.
With the only economic news of note the two Central Bank announcements USD.CAD should remain subdued today as the currency markets focus on the Euro, if the ECB announces a major new stimulus plan then you may see the Loonie make some strides against the Euro.
Have
a great day
Mike
GFX Morning Currency Rates
|
|||||||
Currencies
|
7:00am Today's Opening
|
Yesterday's Opening
|
|||||
USD/CAD
|
1.1352
|
1.1382
|
|||||
CAD/USD
|
0.8809
|
0.8785
|
|||||
EUR/USD
|
1.2307
|
1.2325
|
|||||
EUR/CAD
|
1.3975
|
1.4028
|
|||||
STG/CAD
|
1.7798
|
1.7825
|
|||||
AUD/CAD
|
0.9506
|
0.9581
|
|||||
CAD/JPY
|
105.58
|
104.92
|
|||||
CAD/CHF
|
0.8606
|
0.8574
|
|||||
CAD/HKD
|
6.8054
|
6.7897
|
|||||
CAD/CNY
|
5.4234
|
5.4005
|
|||||
CAD/MXN
|
12.4392
|
12.4227
|
|||||
Commodities
|
|||||||
Gold
|
$1,202.00
|
$1,200.00
|
|||||
OIL
|
$67.33
|
$67.24
|
|||||
US DOLLAR INDEX
|
|||||||
P.CLOSE
|
88.96
|
88.62
|
|||||
OPEN
|
88.97
|
88.85
|
|||||
US 10YR YIELD
|
2.28%
|
2.29%
|
|||||
No comments:
Post a Comment