Today's
expected range for the Canadian Dollar against the US Dollar is .9830-.9880
Today's
expected range for the Canadian Dollar against the Euro is 1.3120-1.3200
Today's
expected range for the Canadian Dollar against Sterling is 1.5800-1.5875
The
US Dollar is marginally weaker this morning as comments by a US Federal Reserve
committee have pushed the Euro higher this morning. Overseas markets were for
the most part quiet as it was a holiday in Japan but in Hong Kong a speech by
Fed member Fred Evans called for stimulus to remain in place much longer than
may be presently considered, he argued that removing stimulus in the US economy
too early may prove damaging, EURO.USD traded above 1.3400 for short while on
this report.
In
Japan, Yen was again weaker as that country tries to devalue its currency, the
new prime minister called for the appointment of a very aggressive new Bank of
Japan President, one that will undertake an aggressive expansionary program for
the economy.
The
Canadian Dollar continues to trade in tight overnight ranges with no real sense
of direction, markets today will be looking to US Federal Reserve Chairman Ben
Bernanke's first speech of the year for his views on the economy and the
current stimulus program and how he plans to unwind it, any surprises should
get volatility moving again.
For
today I have started to narrow my expected ranges for the Loonie as USD.CAD has
not been moving that much, most activity for the Loonie over recent days has
been against the Euro and Sterling. We do get the Bank of Canada business outlook
survey today but I am not expecting any great revelations to move the market.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9844 | 0.9833 | |||||
| CAD/USD | 1.0156 | 1.0167 | |||||
| EUR/USD | 1.3363 | 1.3252 | |||||
| EUR/CAD | 1.3157 | 1.3033 | |||||
| STG/CAD | 1.5829 | 1.5846 | |||||
| AUD/CAD | 1.0382 | 1.0394 | |||||
| CAD/JPY | 90.47 | 90.05 | |||||
| CAD/CHF | 0.9311 | 0.932 | |||||
| CAD/HKD | 7.8532 | 7.8613 | |||||
| CAD/CNY | 6.315 | 6.3181 | |||||
| CAD/MXN | 12.8537 | 12.859 | |||||
| Commodities | |||||||
| Gold | $1,668 | $1,669 | |||||
| OIL | $94.17 | $93.15 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.84% | 5.50% | |||||
| 1 Week | 5.30% | 5.40% | |||||
| 1 Month | 5.32% | 5.35% | |||||
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