Today’s
expected range for the Canadian Dollar against the US Dollar is 1.1755-1.1830
Today’s
expected range for the Canadian Dollar against the Euro is 1.4000-1.4070
Today’
expected range for the Canadian Dollar against Sterling is 1.7900-1.7970
The
US Dollar is marginally stronger this morning as further declines in the price
of oil continue to push world equity markets lower and the Greenback higher. Overnight
the price of a barrel of oil fell below $49 and this morning it is trading just
above that level, clearly there is further pressure for the price to keep
falling. How low will the price go is anybody’s guess but at the moment you can’t
fight the trend.
In
the UK overnight, the Pound trader weaker as more poor economic data came in on
the economy, Sterling has been trading weaker for a few weeks now and it looks
like that will continue for some time. The Euro continues to trade with a weak
bias and should continue to do so ahead of the ECB announcing massive stimulus
programs and the Greek election.
The
Canadian Dollar traded in a narrow range last night but it did give back some
of the strength it picked up yesterday, USD.CAD is still below the 1.1840 levels
that we saw on Monday night but given the current situation we could once again
see those levels anytime soon.
Up today we get Factory Orders from the US but for the most part any movement will just follow the price of oil and any further declines in equity markets, we could easily see USD.CAD break the 1.1800 level once again.
Have
a great day.
Mike
GFX
Morning Currency Rates
|
||||||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | 4pm close January 05, 2014 | |||||||
| USD/CAD | 1.177 | 1.1788 | 1.1746 | |||||||
| CAD/USD | 0.8496 | 0.8483 | 0.8513 | |||||||
| EUR/USD | 1.189 | 1.1908 | 1.1942 | |||||||
| EUR/CAD | 1.4004 | 1.4035 | 1.4028 | |||||||
| STG/CAD | 1.7885 | 1.5245 | 1.7926 | |||||||
| AUD/CAD | 0.9565 | 0.9508 | 0.9501 | |||||||
| CAD/JPY | 101.34 | 101.93 | 101.82 | |||||||
| CAD/CHF | 0.8579 | 0.8556 | 0.8565 | |||||||
| CAD/HKD | 6.564 | 6.5584 | 6.5804 | |||||||
| CAD/CNY | 5.2767 | 5.2739 | 5.2914 | |||||||
| CAD/MXN | 12.7158 | 12.6449 | 12.6449 | |||||||
| Commodities | ||||||||||
| Gold | $1,210 | $1,189 | $1,205.00 | |||||||
| OIL | $49.11 | $51.37 | $49.85 | |||||||
| US DOLLAR INDEX | ||||||||||
| OPEN | 91.62 | 91.59 | 91.36 | |||||||
| US 10YR YIELD | 2.01% | 2.12% | 2.03% | |||||||
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