Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0125-1.0200
Today’s
expected range for the Canadian Dollar against the Euro is 1.2340-1.2450
Today’s
expected range for the Canadian Dollar against Sterling is 1.5740-1.5850
The
US Dollar is marginally stronger this morning as the Euro has dropped off on a declining
consumer confidence report in Germany and a statement from the German Supreme
Court on the legality of Germany contributing to the EU Emergency bail-out fund,
the German high court announced that they will not rule on the fund until September
so this will keep Euro markers on edge.
The
Canadian Dollar is virtually unchanged form our close on Friday, USD.CAD continues to trade within the
1.0100-1.0200 and looks like it will stay in that range for a while yet. Up
today we do have the release of some key data out of the US with the June
Retail Sales report and Empire State manufacturing report for July. We are expecting
an increase of 0.2% in Retail Sales spurred on by an increase in auto spending,
a strong number here will be positive for equities and should push USD.CAD
lower.
Once
the Retail Sales number is out of the way the Canadian market will get setup
for the Bank of Canada interest rate announcement tomorrow and their quarterly
monetary Policy report on Wednesday. There is no belief in the market that the Bank
will raise interest rates tomorrow but the market will be looking for guidance on
when the present low-rate environment will come to an end, we could be in for a
volatile week.
Have
a great week
Mike
GFX
Morning Currency Rates
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Monday July 16th,
2012
|
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| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0150 | 1.0157 | |||||
| CAD/USD | 0.9852 | 0.9845 | |||||
| EUR/USD | 1.2184 | 1.2204 | |||||
| EUR/CAD | 1.2368 | 1.2395 | |||||
| STG/CAD | 1.5766 | 1.5684 | |||||
| AUD/CAD | 1.0367 | 1.0343 | |||||
| CAD/JPY | 77.8000 | 77.9700 | |||||
| CAD/CHF | 0.9704 | 0.9683 | |||||
| CAD/HKD | 7.6371 | 6.2871 | |||||
| CAD/CNY | 6.2837 | 7.6351 | |||||
| CAD/MXN | 13.1012 | 13.1847 | |||||
| Commodities | |||||||
| Gold | $1,349.50 | 1,583.2500 | |||||
| OIL | $86.72 | $86.88 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 10.75% | 7.89% | |||||
| 1 Week | 7.65% | 8.46% | |||||
| 1 Month | 7.50% | 8.08% | |||||
Today's Economic Calendar
USA
Empire State Manufacturing Report for July (08:30)
Retail Sales for June (08:30)
Business Inventories for May (10:00)
CANADA
International Securites Transactions for May (08:30)
New Motor Vehicle Sales for April (08:30)
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