GFX Morning FX Commentary, April 24, 2012

Good Morning,

Today’s suggested range for the Canadian dollar against the US Dollar is .9860 - .9930

Today’s suggested range for the Canadian dollar against the Euro is 1.2975 – 1.3075

Today’s suggested range for the Canadian dollar against Sterling is 1.5950 – 1.6050

In Europe stocks rebounded and the single currency held steady as investor concerns eased.

The Dutch debt sale overnight was solid despite the Prime Minister of the coalition government resigning yesterday.  While the Dutch debt sale was a relief to markets, Spain continues to be a troublesome area with 3 & 6 month bond yields spiking much higher following today’s auction.

 Turning to North America the US Dollar is starting to drift lower ahead of the U.S. release of  new home sales for March, U.S. consumer confidence and the Richmond Fed Manufacturing index. The Dow futures are pointing higher In pre-market trading by 35 with oil steady and gold slightly firmer. The Canadian dollar was sidelined overnight and at the start of the north American opening is showing signs of firming. Canadian retail sales for February is due out at 8:30am. The Canadian dollar continues to attract foreign interest as our Government is perceived to be very stable and was bolstered by the fact that the Progressive Conservatives have held on in the latest Alberta elections.

Have a great day!

GFX Morning Currency Rates
Tuesday, April 24 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		0.9903			0.9966
CAD/USD		1.0097			1.0034
EUR/USD		1.3163			1.3129
EUR/CAD		1.3037			1.3096
STG/CAD		1.5995			1.6036
AUD/CAD		1.0185			1.0258
CAD/JPY		81.99			81.35
CAD/CHF		0.9216			0.9173
CAD/HKD		7.8394			7.7854
CAD/CNY		6.3658			6.3268
CAD/MXN		13.2958
Commodities
Gold		$1,640			$1,633
OIL		$103.10			$103.11
Option Volatility
Canada
O/N		11.84%			11.59%
1 Week		9.09%			8.86%
1 Month		8.67%			8.39%