Good
Morning,
Today's
expected range for the Canadian Dollar against the US Dollar is .9950-1.0050
Today's
expected range for the Canadian Dollar against the Euro is 1.3040-1.3150
Today's
expected range for the Canadian Dollar against Sterling is 1.5820-1.5920
The
US Dollar is marginally stronger this morning against the Euro has Global
investors are getting increasingly concerned with the Spanish debt situation
and also on comments yesterday from Fed chairman Ben Bernanke that the US economy
"is still far from being fully recovered". Also overnight the Chinese
balance of trade moved back into a surplus position indicating that they were
importing less that they were exporting for the first time in a long period of
time, a sure sign that the Chinese economy is still going to experience strong
growth. On the currency markets EURO.USD fell to trade at 1.3060, GBP.USD fell
to trade at 1.5820 so both currencies are trading weaker to the US dollar.
The
Canadian dollar is still relatively weak against the Greenback as it hangs
around par, but it continues to hold onto strength against the Euro and Pound.
The Loonie is still trading weaker as the effects of the poor US jobs report continues
to weigh on equities, you can see just how nervous investors are about this recovery
in the US, in the States the economy still created 100k new jobs and investors
run for the hills because the number did not hit expectation of 200k, the
market is very nervous at the moment and I think will be so for some time yet.
With
the lack of economic data today currency markets will look to equities to
garner their direction and right now the Dow Jones is set to recover a little
after yesterday’s decline we should see USD.CAD trade around par in fairly
subdued markets.
Have
a great day
Mike
GFX
Morning Currency Rates
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Tuesday, April 10
2012
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| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9985 | 0.9982 | |||||
| CAD/USD | 1.0015 | 1.0018 | |||||
| EUR/USD | 1.3074 | 1.3073 | |||||
| EUR/CAD | 1.3055 | 1.3057 | |||||
| STG/CAD | 1.5802 | 1.5838 | |||||
| AUD/CAD | 1.0272 | 1.0276 | |||||
| CAD/JPY | 81.26 | 81.49 | |||||
| CAD/CHF | 0.9205 | 0.92 | |||||
| CAD/HKD | 7.7775 | 7.7785 | |||||
| CAD/CNY | 6.3173 | 6.3161 | |||||
| CAD/MXN | 13.0571 | 13.0505 | |||||
| Commodities | |||||||
| Gold | $1,646 | $1,643 | |||||
| OIL | $101.92 | $101.88 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 10.48% | 10.51% | |||||
| 1 Week | 8.06% | 8.08% | |||||
| 1 Month | 8.52% | 8.49% | |||||
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