Today’s
expected range for the Canadian Dollar against the US Dollar is .9830-.9900
Today’s
expected range for the Canadian Dollar against the Euro is 1.2800-1.2870
Today’s
expected range for the Canadian Dollar against Sterling is 1.5870-1.5950
The
US Dollar is marginally weaker as the Euro received a boost from a better than
expected German investor confidence report. EURO.USD jumped to trade as high as
1.2990 on this report as it was the first time since May that investor confidence
rose, not sure what German investors are seeing that would inspire them so much
but we will see if this momentum can be carried forward.
One
thing that investors may be looking at is further stimulus from the US Federal
Reserve, the Fed begins its last meeting of the year today amid speculation
that they may announce further stimulus for the American economy. such an announcement
would push equities higher and drive the US Dollar lower.
The
Canadian Dollar had a very narrow overnight trading range as it settles in
after the strong employment report and the approval of the Nexen deal by
Industry Canada on Friday gave it a boost, we may stay in this new range for a
while now. We do have some US and Canadian trade data out this morning but for the
most part the currency markets will settle down and await the announcement from
the Fed tomorrow afternoon. I still favour caution for US Dollar buyers, any
negative news will push USD.CAD back higher quickly and further strength for
the Loonie will be slower to come by over a longer period of time.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9872 | 0.9876 | |||||
| CAD/USD | 1.0128 | 1.0124 | |||||
| EUR/USD | 1.2993 | 1.2909 | |||||
| EUR/CAD | 1.2829 | 1.2751 | |||||
| STG/CAD | 1.5889 | 1.5852 | |||||
| AUD/CAD | 1.0359 | 1.0357 | |||||
| CAD/JPY | 83.51 | 83.19 | |||||
| CAD/CHF | 0.9437 | 0.9458 | |||||
| CAD/HKD | 7.8285 | 7.8242 | |||||
| CAD/CNY | 6.3288 | 6.3171 | |||||
| CAD/MXN | 12.991 | ||||||
| Commodities | |||||||
| Gold | $1,713 | $1,714 | |||||
| OIL | $86.02 | $86.47 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 6.50% | 6.58% | |||||
| 1 Week | 5.20% | 5.21% | |||||
| 1 Month | 5.10% | 5.12% | |||||
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