Afternoon Commentary 11 Nov 2013

Good afternoon,

Below are the current daily levels vs. the other major currencies.

USD.CAD 1.0475 down 0.04%

GBP.CAD 1.6737 down  0.28%

EUR.CAD 1.4043 up 0.25%

For the first time in three days, we have seen the EURO rise by 0.3%  against the USD dollar, after last week’s  excessive announcement slashing interest rates to 0.25%.  The week ahead will be important for the Eurozone with GDP data for Germany and the Eurozone due out on Thursday.

With very positive employment numbers announced last week, we have seen the CAD dollar rise against 16 of its most-trades peers .   It is speculated  that the North American economy will grow faster than the rest of the world.  There is feeling that Canada will perform better than the G-10 currencies and lag against  the USD.

There is little change with CAD against USD  this morning with bond markets in Canada and US closed for  a holiday.  We are expecting very little movement for the rest of the day.

The overnight expected range for the Canadian dollar against the USD dollar 1.0425-1.04525

The overnight expected range for the Canadian dollar against the Euro is 1.3992-1.4092

The overnight expected range for the Canadian dollar against Sterling  is 1.6686-1.6786

Enjoy your afternoon,

Barbara

Barbara Friedman  | GFX Partners Inc |Currency Advisor