GFX Morning FX Commentary, June 13, 2012

Good Morning,

Today’s suggested range for the Canadian dollar against the US Dollar is 1.0225 – 1.0295

 Today’s suggested range for the Canadian dollar against the Euro is 1.2800 – 1.2900

 Today’s suggested range for the Canadian dollar against Sterling is 1.5920 – 1.6020

The FX markets held steady overnight as investors are uncertain about short term direction
with the Greek elections on Sunday. The EUR/USD is capped at the 1.2600 level on Eurozone fears
and the downside seems limited due to the overall market being short. The EU data overnight did little to alter the single currency with Eurozone industrial production on a y/y basis dropping to 2.3% but better than the 2.7% decline forecast. The Canadian dollar is opening where we closed yesterday and was held to tight ranges overnight. The plight of the currency remains tied to the turbulence in the EU.  The Dow futures are showing a slight retreat from yesterday down 10 points in pre-market trading.  The important U.S. retail sales figure for May is due out this morning with expectations of a 0.2% drop, the previous number declined by 0.1%. Both gold and oil are holding steady from yesterday.

Have a great day!

GFX Morning Currency Rates
Wednesday June 13, 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0257			1.0272
CAD/USD		0.9749			0.9735
EUR/USD		1.2553			1.251
EUR/CAD		1.2857			1.2852
STG/CAD		1.5966			1.5957
AUD/CAD		1.0227			1.0189
CAD/JPY		77.62			77.37
CAD/CHF		0.9336			0.9338
CAD/HKD		7.5569			7.5482
CAD/CNY		6.2053			6.1987
CAD/MXN		13.6259			13.6833
Commodities
Gold		$1,610			$1,592
OIL		$83.16			$82.48
Option Volatility
Canada
O/N		15.84%			13.90%
1 Week		12.67%			11.90%
1 Month		10.69%			10.50%