Today’s
expected range for the Canadian Dollar against the US Dollar is .9935-1.0010
Today’s
expected range for the Canadian Dollar against the Euro is 1.2740-1.2800
Today’s
expected range for the Canadian Dollar against Sterling is 1.5870-1.5950
The
US Dollar is marginally stronger this morning as the Euro traded weaker for
most of the overnight session before recovering early this morning. Overnight
it was announced that after 11 hours of discussions the EU Finance Ministers
could not agree on releasing the next tranche of funds to Greece nor could they
agree on giving them more time to pay back what they owe. They have agreed to meet
in another week to discuss the situation, not that is what I call quality leadership.
There appears to be a real division between the EU and the IMF on what should
be done, It will be interesting to see how this gets played out.
Events
in the Gaza and Israel continue to escalate rather than slowdown, this morning a
bomb blew up on a bus in Tel Aviv injuring 10 people, if this leads to a ground
invasion of Gaza I will be very interested to see how it plays out in the new
Arab countries, if the come to the aid of the Palestinians this could get very
ugly very quickly which would drive the US Dollar higher and equities lower.
The
Canadian Dollar is off its highs against the US Dollar as USD.CAD moved a
little higher overnight in a very narrow trading range. USD.CAD continues to
trade in tight ranges around par but is very susceptible to any weakness in equities
or geo-political developments. Up today we do get the release of US Leading
Indicators for October and Consumer Sentiment for November, barring any surprises with these
releases we should continue to see USD.CAD trade in a tight range with a bias
towards moving higher back towards parity, markets should slow right down this afternoon
as the US Bond market closes early ahead of the US Thanksgiving holiday.
Just
a reminder that the US wire system is shutdown tomorrow so If you need any US
wires sent make sure you get your transactions in early today. To all our
American readers may you have a safe and happy holiday.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9965 | 0.9955 | |||||
| CAD/USD | 1.0035 | 1.0045 | |||||
| EUR/USD | 1.2804 | 1.2814 | |||||
| EUR/CAD | 1.2761 | 1.2757 | |||||
| STG/CAD | 1.587 | 1.5856 | |||||
| AUD/CAD | 1.0332 | 1.0343 | |||||
| CAD/JPY | 82.6 | 81.83 | |||||
| CAD/CHF | 0.9432 | 0.9412 | |||||
| CAD/HKD | 7.7559 | 7.7853 | |||||
| CAD/CNY | 6.2491 | 6.2621 | |||||
| CAD/MXN | 13.06 | ||||||
| Commodities | |||||||
| Gold | $1,726 | $1,733 | |||||
| OIL | $87.50 | $89.11 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 5.96% | 7.31% | |||||
| 1 Week | 4.85% | 5.01% | |||||
| 1 Month | 5.56% | 5.64% | |||||
No comments:
Post a Comment