Today's
expected range for the Canadian Dollar against the US Dollar is 1.0175-1.0275
Today's
expected range for the Canadian Dollar against the Euro is 1.2850-1.2975
Today's
expected range for the Canadian Dollar against Sterling is 1.5930-1.6050
The
US Dollar is considerably weaker this morning as finally some positive news
from the most recent EU leader summit has pushed EURO.USD and equity markets much
higher this morning.
EU
leaders have changed the rules of the Spanish banking bail-out so the rescue
funds can lend directly to Spanish banks without the Government taking on the
massive debt, provisions for Italy should they need it were also made
available. The financial markets seem to like this move and it would be have
been very interesting to have been at the meeting, from everything I read
French President Francois Hollande led a back door run around German Chancellor
Merkel to get this proposal through the meeting, I get the feeling that France
and Germany will not get along much over the next few years, I wonder if they
all got together yesterday to watch the football game or went their separate ways.
With
EURO.USD jumping back up to 1.2600 (largest single day gain this year) it will
be interesting to see if the Euro can hold onto the momentum for an extended
period of time.
As
you would expect with the US Dollar much weaker the Loonie has jumped stronger
this morning with USD.CAD falling back below the 1.0300 level. Yesterday saw
the Loonie trade with a very weak bias and it caught us by surprise as the
other commodity currencies held their strength against the USD. The Loonie has
lost a little ground against the Euro and Sterling as their overnight strength
have reduced the Lonnie’s buying power.
Remember
to get you weekend orders in, given all that is going on in the world Monday
(we are closed) the currency markets have the chance to be a very volatile so
you want to make sure that you take advantage of the Canadian holiday.
I
wish everyone a great Canada Day weekend, we sometimes take it for granted but
we do live without a doubt in the best country in the world.
Mike
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GFX
Morning Currency Rates
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Friday
June 29th, 2012
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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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1.0236
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1.0267
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CAD/USD
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0.9764
|
0.974
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EUR/USD
|
1.2583
|
1.2429
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EUR/CAD
|
1.2883
|
1.2764
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STG/CAD
|
1.598
|
1.5964
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AUD/CAD
|
1.0422
|
1.0331
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CAD/JPY
|
77.62
|
77.24
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CAD/CHF
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0.9323
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0.9403
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CAD/HKD
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7.5703
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7.5488
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CAD/CNY
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6.2054
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6.1889
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CAD/MXN
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13.1024
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13.2733
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Commodities
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Gold
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$1,572
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$1,569
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OIL
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$80.13
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$80.03
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Option Volatility
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Canada
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O/N
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9.89%
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13.40%
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1 Week
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10.26%
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9.13%
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1 Month
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9.64%
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9.07%
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