Daily Currency Update
The Canadian dollar is relatively unchanged after making gains this week. The Loonie down slightly as the July employment release this morning showed that the economy lost a net -1.2K jobs last month. This was lower than the expected addition of 25,000. In doing a deeper dive though, all of the losses were in part time positions as full time jobs were up 64,000. Also heling the CAD has been the movement of Oil prices and the correlation between the currency and Oil prices are moving back into sync.
Key Movers
After a volatile week in markets, the USD is making small gains against most other majors to end the week. Equities futures are down this morning in pre-market trading driving money back into US treasuries. With no US data today, the Greenback will move inline with broader market sentiment.
Expected Ranges
- EUR/CAD: 1.4977 - 1.5080 ▼
- GBP/CAD: 1.7450 - 1.7552 ▼
- AUD/CAD: 0.9012 - 0.9099 ▼
- USD/CAD: 1.3720 - 1.3812 ▼