Today’s
expected range for the Canadian Dollar against the US Dollar is 1.2475-1.2550
Today’s
expected range for the Canadian Dollar against the Euro is 1.4040-1.4130
Today’s
expected range for the Canadian Dollar against Sterling is 1.9240-1.9310
The
US Dollar is for the most part unchanged to start the new trading month, EURO.USD
has pushed higher and is trading near the 1.1250 level this morning as it recovered
from the drop off on Friday, Euro zone inflation showed that prices did not
fall as much as markets were expecting and EU Employment showed a small boost.
The Greenback was a getting a bit of a jump
Friday afternoon from the strong US GDP and Consumer Confidence reports but it
looks like that bump has run its course and now the Dollar is settling in for
the new month’s economic activity.
The
Canadian Dollar continues to range trade and USD.CAD opens the new month right
were we left it on Friday, it is going to take a major event to shake the
currency pair from its recent ranges, I still favour a move higher for USD.CAD
as the month goes on but it may take a while before we see a significant move
for the Loonie. The Canadian Dollar did lose a little ground to both the Euro
and Sterling overnight as both of those currencies traded a little stronger overnight,
recent trading activity would suggest anytime you see EURO.CAD below 1.4000 try
and grab some, it seems the rate does not stay below 1.4000 for very long.
With
the start of a new month we have a lot of economic activity to look forward to,
this week is highlighted by lots of Central Bank activity, we have the Bank of
Canada on Wednesday followed by the ECB and Bank of England on Thursday. In
addition we have Canadian GDP on Tuesday and US employment on Friday so we are
going to have a very busy week.
Up
today we have some secondary US data to start the month, positive reports today
once again building on Friday’s strong GDP report should give the US Dollar a
boost, US Dollar buyers should be ready to continue to buy on any US Dollar
dips.
Have
a great week
Mike|
GFX Morning Currency Rates
| ||||||||||
|
| ||||||||||
|
Currencies
|
7:00am
Today's Opening
|
Yesterday's
Opening
|
4pm
close Friday
| |||||||
|
USD/CAD
|
1.25
|
1.2474
|
1.25
| |||||||
|
CAD/USD
|
0.8
|
0.8016
|
0.8
| |||||||
|
EUR/USD
|
1.1228
|
1.1223
|
1.1187
| |||||||
|
EUR/CAD
|
1.4041
|
1.4004
|
1.3987
| |||||||
|
STG/CAD
|
1.9265
|
1.9244
|
1.9294
| |||||||
|
AUD/CAD
|
0.9736
|
0.9765
|
0.9765
| |||||||
|
CAD/JPY
|
95.75
|
95.59
|
95.71
| |||||||
|
CAD/CHF
|
0.7644
|
0.7609
|
0.7623
| |||||||
|
CAD/HKD
|
6.1781
|
6.1932
|
6.181
| |||||||
|
CAD/CNY
|
5.0163
|
5.0235
|
5.0235
| |||||||
|
CAD/MXN
|
12.0059
|
12.06
|
11.9655
| |||||||
|
Commodities
| ||||||||||
|
Gold
|
$1,214
|
$1,207
|
$1,212
| |||||||
|
OIL
|
$48.89
|
$48.97
|
$49.21
| |||||||
|
US
DOLLAR INDEX
| ||||||||||
|
OPEN
|
95.18
|
95.1
|
95.33
| |||||||
|
US
10YR YIELD
|
2.00%
|
2.04%
|
1.99%
| |||||||
No comments:
Post a Comment