Good Morning,
Today’s suggested range for the Canadian dollar against the US Dollar is 1.0210 – 1.0275
Today’s suggested range for the Canadian dollar against the Euro is 1.2825 – 1.2925
Today’s suggested range for the Canadian dollar against Sterling is 1.6025 – 1.6125
GREEK POLLS SHOWING SUPPORT FOR PRO BAILOUT PARTIES
Risk aversion has faded on the latest polls out of Greece showing support for the pro-bailout parties.
The U.S. Dollar has pulled back especially against the commodity based currencies which were hardest
hit over the last few trading sessions. The U.S. markets are closed today for the Memorial Day holiday
so trading will be very thin once the London markets are closed. The sentiment hasn’t changed regarding the
Euro-zone as much uncertainty persists, especially the financial woes in Spain.
Also helping the commodity based currencies is that China may be looking at providing stimulus, helping
both oil and gold post marginal gains.
In the short term for the EUR/USD 1.2500 seems to be the support line with a close below this level signaling
further downside. On Friday we tested EUR/USD at 1.2500 with no follow through as we were very close to the Peg in
EUR/CHF at 1.2000 which the Swiss National Bank must defend by buying Euros.
Have a great day!
Mike
Today’s suggested range for the Canadian dollar against the US Dollar is 1.0210 – 1.0275
Today’s suggested range for the Canadian dollar against the Euro is 1.2825 – 1.2925
Today’s suggested range for the Canadian dollar against Sterling is 1.6025 – 1.6125
GREEK POLLS SHOWING SUPPORT FOR PRO BAILOUT PARTIES
Risk aversion has faded on the latest polls out of Greece showing support for the pro-bailout parties.
The U.S. Dollar has pulled back especially against the commodity based currencies which were hardest
hit over the last few trading sessions. The U.S. markets are closed today for the Memorial Day holiday
so trading will be very thin once the London markets are closed. The sentiment hasn’t changed regarding the
Euro-zone as much uncertainty persists, especially the financial woes in Spain.
Also helping the commodity based currencies is that China may be looking at providing stimulus, helping
both oil and gold post marginal gains.
In the short term for the EUR/USD 1.2500 seems to be the support line with a close below this level signaling
further downside. On Friday we tested EUR/USD at 1.2500 with no follow through as we were very close to the Peg in
EUR/CHF at 1.2000 which the Swiss National Bank must defend by buying Euros.
Have a great day!
Mike
GFX
Morning Currency Rates
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Monday May 28, 2012
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| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0226 | 1.0252 | |||||
| CAD/USD | 0.9779 | 0.9754 | |||||
| EUR/USD | 1.2588 | 1.2578 | |||||
| EUR/CAD | 1.2874 | 1.2897 | |||||
| STG/CAD | 1.6057 | 1.6074 | |||||
| AUD/CAD | 1.0163 | 1.0037 | |||||
| CAD/JPY | 77.57 | 77.53 | |||||
| CAD/CHF | 0.9337 | 0.9312 | |||||
| CAD/HKD | 7.5881 | 7.5626 | |||||
| CAD/CNY | 6.2013 | 6.185 | |||||
| CAD/MXN | 13.6423 | ||||||
| Commodities | |||||||
| Gold | $1,577 | $1,563 | |||||
| OIL | $91.76 | $91.05 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 12.30% | 10.63% | |||||
| 1 Week | 10.17% | 10.39% | |||||
| 1 Month | 11.00% | 11.13% | |||||
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