Good Morning,
Todays suggested range for the Canadian dollar against the US 1.0070 - 1.0145
Todays suggested range for the Canadian dollar against the Euro 1.3100 1.3200
Todays suggested range for the Canadian dollar against Sterling 1.5700 - 1.5825
EU FINANCE MINISTERS BALK AT PRIVARE CREDITOR DEMANDS
The sentiment turned a little sour overnight after EU finance ministers rejected demands of a 4% coupon by private creditors to re-structure the Greek debt. A resolution needs to be reached by March ,that's when Greece must repay 14.5 billion euros. The USD is out performing the broader market this morning with stocks in Europe negative and commodities modestly lower. The Canadian dollar has retreated from yesterday's closing level albeit in narrow ranges. The risk aversion forced many investors to book quick profits from the recent commodity rally, with the commodity based currencies lagging the other major currencies.
Positive European economic data overnight was overlooked by the impasse on the Greek restructuring. The EUR/USD has held pretty steady as short positions still outweigh the market. The economic calendar today in North America includes Canadian retail sales for November and in the U.S. Richmond Fed manufacturing index for January.
The main focus will be tomorrows FOMC interest rate decision which is expected to hold at 0.25% with the statement closely watched for future guidance on stimulus.
Dow futures are pointing lower by 50 in pre-market trading.
For current market prices please contact our currency advisors or visit us online site at www.gfxpartners.ca
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0114 | 1.0091 | |||||
| CAD/USD | 0.9887 | 0.991 | |||||
| EUR/USD | 1.3001 | 1.2996 | |||||
| EUR/CAD | 1.3154 | 1.3117 | |||||
| STG/CAD | 1.5745 | 1.5709 | |||||
| AUD/CAD | 1.0587 | 1.0648 | |||||
| CAD/JAP | 76.39 | 76.19 | |||||
| CAD/CHF | 0.09168 | 0.9201 | |||||
| CAD/HKD | 7.6706 | 7.689 | |||||
| CAD/CNY | 6.2585 | 6.2728 | |||||
| Commodoties | |||||||
| Gold | $1,667 | $1,675 | |||||
| OIL | $99.12 | $99.07 | |||||
| Option Volatility | |||||||
| O/N | 12.34% | 12.49% | |||||
| 1 Week | 9.52% | 9.65% | |||||
| 1 Month | 9.62% | 9.54% | |||||
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