Good
Morning,
Today’s
suggested range for the Canadian dollar against the US Dollar is .9780 - .9850
n Europe better than expected German retail sales has helped the DAX eke out small gains
while the other European stock exchanges are lower. The other exchanges are being pressured by
16 Spanish banks rating downgrades by Standard & Poor’s this following last week’s sovereign rating downgrade by two notches from the same rating s agency. The Euro is slightly weaker on the Spanish news and the British Pound has made gains through the EUR/GBP cross.
In North
America the Dow futures are pointing slightly lower down by 11 in pre-market
trading.
The
Canadian dollar held firm from our close but was contained to extremely tight
ranges ahead of the Canadian GDP report out at 8:30am this morning. The market is expecting Canadian GDP to grow
2.1% from the previous 1.7% y/y. The week ahead will still focus on the corporate earnings with the U.S. employment report on Friday being the main emphasis. The economic data releases in the U.S. today includes personal income and spending followed later by Chicago purchasing managers index.
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Currencies
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7:00am Today's Opening
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Yesterday's Opening
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USD/CAD
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0.9817
|
0.9832
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CAD/USD
|
1.0186
|
1.0171
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EUR/USD
|
1.3218
|
1.3235
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EUR/CAD
|
1.2979
|
1.3015
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STG/CAD
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1.5957
|
1.595
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AUD/CAD
|
1.0239
|
1.0247
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CAD/JPY
|
81.62
|
82
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CAD/CHF
|
0.9252
|
0.9226
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CAD/HKD
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7.7584
|
7.8915
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CAD/CNY
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6.4218
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6.4139
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CAD/MXN
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13.212
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13.4028
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Commodities
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Gold
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$1,663
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$1,655
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OIL
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$104.18
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$104.23
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Option Volatility
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Canada
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O/N
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9.22%
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6.00%
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1 Week
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8.18%
|
8.25%
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1 Month
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7.87%
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8.25%
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