For Today's expected Currency Ranges please visit our web site at www.gfxpartners.ca and subscribe to our morning newsletter.
The
US Dollar is significantly stronger this morning, the Euro reached a 3 week low
against the Greenback this morning as European leaders appear reluctant to
provide the 2nd bailout to Greece unless they get more control over
how the money will be spent, in addition Moody’s bond rating agency came out this
morning and said it is reviewing 17 major financial institutions for a possible
downgrade. The equity markets quickly gave up some strength with the US Dollar surging
on the back of the loss in equities, EURO.USD fell to trade as low as 1.2975
and GBP.USD fell to trade at 1.5670 so overall a good night for the Greenback,
the best in weeks.
As
you would expect the Loonie gave back some strength last night and looks set
today to make a break back above parity this morning, this type of move reinforces
my point that I have been writing about over the past few weeks, US dollar
buyers need to lock some of their forward exposure anytime we get near the
.9950 level, each time USD.CAD approaches that level it bounces higher and given
the current trading range over the past while US Dollar sellers now need to be
ready to capitalize on any moves towards 1.0050 and 1.0100 as this has been the
limit of any pullback in the past few weeks.
With
very little in the way of economic news out until tomorrow (where we get
Canadian and US CPI) I look for USD.CAD to punch a little higher to start the
day but the markets are still very nervous and will wait on any further
developments out of Europe before a breakout on either side is achieved.
Have a great day
Mike
Thursday, February-16-12
Market Indicators * For current market prices please contact our currency advisors or visit
ouron line site at www.gfxpartners.ca *
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0034 | 0.9942 | |||||
| CAD/USD | 0.9966 | 1.0058 | |||||
| EUR/USD | 1.3 | 1.316 | |||||
| EUR/CAD | 1.304 | 1.3088 | |||||
| STG/CAD | 1.5724 | 1.5629 | |||||
| AUD/CAD | 1.0705 | 1.0702 | |||||
| CAD/JPY | 78.49 | 78.96 | |||||
| CAD/CHF | 0.9248 | 0.922 | |||||
| CAD/HKD | 7.7278 | 7.7958 | |||||
| CAD/CNY | 6.277 | 6.3332 | |||||
| Commodities | |||||||
| Gold | $1,718 | $1,729 | |||||
| OIL | $101.23 | $101.84 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 12.61% | 11.25% | |||||
| 1 Week | 9.75% | 8.67% | |||||
| 1 Month | 9.76% | 9.14% | |||||
| CBOE Volatilty | |||||||
| Index (VIX) | 21.14% | 19.54% | |||||
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