GFX Morning FX Commentary, April 25, 1212

Good Morning,

Today’s suggested range for the Canadian dollar against the Us Dollar is .9825 - .9900

Today’s suggested range for the Canadian dollar against the Euro is 1.2950 – 1.3050

Today’s suggested range for the Canadian dollar against Sterling is 1.5825 – 1.5925

The US Dollar is under pressure ahead of the FOMC announcement on interest rates at 12:30pm with the statement to follow at 2:15pm. The Euro is on the rise and remains very resilient, while the
British Pound lost ground following worse than expected GDP which showed negative growth of 0.2%
with consensus at 0.1% growth. The U.K. is officially in a recession which means that the Bank of England will probably have to back track on their position of lifting stimulus.  Despite this setback for the U.K. the market sentiment is on the rise fuelled by the ECB’S Draghi’s upbeat speech and that the German 30 yr. bond yields lowered to 2.41% from 2.62%.  Stocks have rallied overseas helping to push the Dow futures up 75 points in pre-market trading.  Oil is slightly firmer with gold holding steady. Commodity based currencies are outperforming with the USD/CAD looking poised to test the low for the year at .9850 level.

Have a great day!

GFX Morning Currency Rates
Wednesday, April 25 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		0.9861			0.9903
CAD/USD		1.0141			1.0097
EUR/USD		1.3201			1.3163
EUR/CAD		1.3016			1.3037
STG/CAD		1.5877			1.5995
AUD/CAD		1.0193			1.0185
CAD/JPY		82.3			81.99
CAD/CHF		0.9228			0.9216
CAD/HKD		7.8885			7.8394
CAD/CNY		6.3888			6.3658
CAD/MXN		13.3227			13.2958
Commodities
Gold		$1,642			$1,640
OIL		$104.09			$103.10
Option Volatility
Canada
O/N		11.01%			11.84%
1 Week		8.50%			9.09%
1 Month		8.49%			8.67%