GFX Morning FX Commentary

Good Morning,

Today’s expected range for the Canadian Dollar against the US Dollar is 1.1585-1.1625

Today’s expected range for the Canadian Dollar against the Euro is 1.4150-1.4200

Today’s expected range for the Canadian Dollar against Sterling is 1.8030-1.8080

The US Dollar is marginally weaker this morning in very light holiday trading, both Euro and Sterling are a bit higher as the markets square up ahead of the holiday break.

The price of oil continues to trade  within the $55 to $59 trading range as it starts to settle into its new trading range, It will take a fairly large economic event to get it to break to either side of this range.

The Canadian Dollar had a quiet night but is a little bit stronger this morning, just like oil it will take something big to push it through its recent range, the Loonie should remain relatively quiet through the holiday season. Just a reminder that the Loonie will be trading on Boxing day so make sure you get your orders in today just in case there is some volatility.

We will be closing the office today around noon so if you need something today please let us know early on. On behalf of everyone here at GFX we want to pass along our wishes for a safe and happy Christmas and if you don’t happen to celebrate the holiday enjoy the quiet time with your families.

Have a great holiday.

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening			4:30pm December 23rd Closing Rates
USD/CAD		1.1603			1.1622				1.1625
CAD/USD		0.8618			0.8604				0.8602
EUR/USD		1.2197			1.2224				1.2167
EUR/CAD		1.4155			1.421				1.4146
STG/CAD		1.8036			1.8081				1.8027
AUD/CAD		0.9408			0.9457				0.9413
CAD/JPY		103.75			103.31				103.82
CAD/CHF		0.849			0.8461				0.8499
CAD/HKD		7.7418			6.6538				7.7365
CAD/CNY		5.355			5.3561				5.3551
CAD/MXN		12.697			12.5929				12.699
Commodities
Gold		$1,176.80			$1,179				$1,174.20
OIL		$56.22			$56.09				$57.02
US DOLLAR INDEX
OPEN		90.18			89.96				90.36
US 10YR YIELD		2.25%			2.16%				2.25%