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 1.3030-1.3150
Today’s
expected range for the Canadian Dollar against Sterling is 1.5820-1.5925
The
US Dollar is basically unchanged in very quiet Easter trading conditions. Today
is still a holiday in the UK and parts of Europe so currency trading is very
restrained. Last night in Asia the US Dollar was trading a bit weaker as the Japanese
current account report showed that economy was moving back into a surplus position
(exporting more than importing), a report which gave the Yen some strength and
will most likely have the Bank of Japan intervening in the economy to prevent
further strength.
The
Canadian Dollar is weaker to start the day and still trading near the parity
level, the Loonie did lose some ground on Friday as the US Employment report came
in worse than expected, The US was expected to create over 200k new jobs last
month but only created just over 100k. On this report the US Dollar jumped
higher across a wide range of currencies as investors will look to sell equities
amid fear the US recovery is losing steam, the Dow Jones will be down over 100
on the opening this morning so it will be an ugly day on Wall and Bay streets.
With
trading conditions subdued I would not expect a significant move for USD.CAD
but with equity markets going to be significantly lower I would expect
that USD.CAD will trade above par at
some point today. I am out of the office today but should be reachable by email
or cellphone.
Have
a great week
Mike
GFX
Morning Currency Rates
|
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Monday, April 09
2012
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9982 | 0.9931 | |||||
| CAD/USD | 1.0018 | 1.0019 | |||||
| EUR/USD | 1.3073 | 1.3072 | |||||
| EUR/CAD | 1.3057 | 1.3047 | |||||
| STG/CAD | 1.5838 | 1.58 | |||||
| AUD/CAD | 1.0276 | 1.0254 | |||||
| CAD/JPY | 81.49 | 82.65 | |||||
| CAD/CHF | 0.92 | 0.9207 | |||||
| CAD/HKD | 7.7785 | 7.7773 | |||||
| CAD/CNY | 6.3161 | 6.3143 | |||||
| CAD/MXN | 13.0505 | ||||||
| Commodities | |||||||
| Gold | $1,643 | $1,624 | |||||
| OIL | $101.88 | $1.02 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 10.51% | 10.87% | |||||
| 1 Week | 8.08% | 8.40% | |||||
| 1 Month | 8.49% | 8.62% | |||||
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