Today's expected range for the Canadian Dollar against the US Dollar is .9940-1.0040
Today's expected range for the Canadian Dollar against the Euro is 1.3210-1.3310
Today's expected range for the Canadian Dollar against Sterling is 1.5750-1.5850
The US Dollar is marginally weaker this morning in light trading ranges as European equity markets are all higher on the news out of Greece that the Parliament has approved the latest austerity budget with the vote passing at the same time violent protests were occurring on the streets of Athens. Greece is not quite out of the woods just yet as the EU is requiring another 325 Billion in cuts to be found and then a letter of guarantee must be signed by the leaders of the political parties stating that the cuts will not be rescinded after this year's election. The vote last night was a big hurdle to get past and I would now be surprised if the money did not flow to Greece in the near future, how the Greek economy is going to recover of course is another matter.
The Canadian Dollar recovered slightly overnight and whit a big jump expected in North American equity markets I would expect that USD.CAD would move a little lower this morning and test the .9950 level. With the lack of economic activity we should be in for another quiet week unless we get any further surprises out of Europe.
Have a great week
Mike
GFX FOREIGN EXCHANGE MORNING UPDATE
Monday, February-13-12
Market Indicators * For current market prices please contact our currency advisors or visit
our
on line site at www.gfxpartners.ca *
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9977 | 0.9999 | |||||
| CAD/USD | 1.0023 | 1.0001 | |||||
| EUR/USD | 1.3263 | 1.3242 | |||||
| EUR/CAD | 1.3237 | 1.3246 | |||||
| STG/CAD | 1.5779 | 1.5825 | |||||
| AUD/CAD | 1.0739 | 1.0681 | |||||
| CAD/JPY | 77.8 | 77.71 | |||||
| CAD/CHF | 0.913 | 0.9127 | |||||
| CAD/HKD | 7.1706 | 7.7555 | |||||
| CAD/CNY | 6.3086 | 6.2985 | |||||
| Commodities | |||||||
| Gold | $1,731 | $1,723 | |||||
| OIL | $99.82 | $98.54 | |||||
| Option Volatility | |||||||
| O/N | 12.61% | 7.69% | |||||
| 1 Week | 9.64% | 9.29% | |||||
| 1 Month | 9.49% | 8.94% | |||||
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