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Interbank Market rate - CAD/USD

Bid Ask
11:12 AM
1.0062 / 1.0064
Low High
24h 1.0045 - 1.0070
Week 0.9933 - 1.0070

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Daily Commentary

February-03-12

Darren Richardson

:: US Dollar vs Canadian Dollar: The USD jumped 45 points earlier this morning as softer Canadian Employment figures were released. The Canadian Unemployment Rate rose to 7.6% highlighting signs of a possible slowdown in economic growth. The US Employment figures were also printed today with figures coming in much better than expected and helping investors to take on risk and sell the USD.

- We expect a trading range of 0.9980 and 1.0050.

:: Canadian Dollar vs Euro: The Euro followed the lead of the USD appreciating against the Loonie to 1.3200. Traders expect the 1.3240 to be significant resistance for further Euro strength.

- We expect a range today in the EUR/CAD rate of 1.3100 and 1.3200.

:: Canadian Dollar vs British Pound, Australian Dollar and New Zealand Dollar: Sterling has rallied against the Loonie this morning on the heels of positive UK Services PMI data, trading at the 1.5795 levels. Despite having both positive Construction PMI and Services PMI data, both numbers are not sufficient to dispel speculation of further QE in the short term. With weak Canadian employment numbers showing, the Australian Dollar has rallied further for its highest levels of the week, trading ... read more


Forex news

CANADA FX DEBT-C$ sails to 3-month high on U.S. jobs data

February-04-12
The Canadian dollar bounced to its strongest level in just over three months on Friday as a surge in U.S. job creation boosted investor confidence about the outlook for the world's biggest economy. The currency surged to C$0. read more

CANADA FX DEBT-C$ sails to 3-month high on U.S. jobs data

February-04-12
The Canadian dollar bounced to its strongest level in just over three months on Friday as a surge in U.S. job creation boosted investor confidence about the outlook for the world's biggest economy. The currency surged to C$0. read more

CANADA FX DEBT-C$ higher on U.S. jobs, stocks eyed

February-04-12
The Canadian dollar touched a session peak against its U.S. counterpart on Friday as data showed the United States added far more jobs than expected, overcoming a disappointing Canadian jobs reading. read more

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