February 2nd, 2011

Good Morning,

Todays suggested range for the Canadian dollar against the US Dollar is .9950 – 1.0050

Todays suggested range for the Canadian dollar against the Euro is 1.3080-1.3200

Todays suggested range for the Canadian dollar against Sterling  is 1.5800-1.5900

The US Dollar is marginally stronger this morning as reports of stalled talks between private Greek bondholders and the  Greek Government have weighed on the common currency, the Euro market had been anticipating a deal by now on the Greek debt situation and if it falls apart look for all markets to get ugly.

China is now getting involved in the Euro crisis, this morning the Chinese premier stated his Government support the actions of the Euro nation in stemming the crisis and are looking for different ways to get involved, the Euro briefly rallied on this report but could not hold its gains and traded weaker throughout the morning.

No big change with the Canadian dollar, USD.CAD continues to oscillate around the parity level as it reacts to developments overseas, last night EURO.USD falls so USD.CAD jumped a bit higher, it is the same trading pattern we have seen over the past few months.

Markets today will get set up for tomorrow's employment report both here in Canada and in the US, in Canada we are expecting to see 24.5K new jobs to be created and an unemployment rate of 7.5% and in the US the good news is expected to continue with 150k  jobs to have been created and an unemployment rate of 8.5%.

For today US dollar sellers may get a chance to sell above parity epically if North American equity markets really drop off on the back of the Greek situation, but given the current trading pattern I would not look for a huge jump in the USD as we should see a stronger Cad at some point In the coming days.

Thanks for all the kind comments on the new blog format and have a great day.

Mike

GFX FOREIGN EXCHANGE MORNING UPDATE

Thursday, February-02-12

                              * For current market prices please contact our currency advisors or visit our

    online site at www.gfxpartners.ca *

Market Indicators

Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		0.9985			0.9995
CAD/USD		1.0015			1.0005
EUR/USD		1.3138			1.3128
EUR/CAD		1.3121			1.3124
STG/CAD		1.5806			1.5776
AUD/CAD		1.0696			1.0665
CAD/JPY		76.18			76.07
CAD/CHF		0.9181			0.9177
CAD/HKD		7.7651			7.7587
CAD/CNY		6.3075			6.3065
Commodities
Gold		$1,749			$1,746
OIL		$97.06			$99.34
Option Volatility
O/N		13.75%			12.00%
1 Week		10.50%			10.15%
1 Month		9.90%			9.90%

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