Today's
expected range for the Canadian Dollar against the US Dollar is 1.0130-1.0230
Today's
expected range for the Canadian Dollar against the Euro is 1.2900-1.3025
Today's
expected range for the Canadian Dollar against Sterling is 1.6000-1.6125
The
US Dollar is marginally weaker this morning as prospects for a Greek coalition
Government being formed in the next few days seem to be increasing. Yesterday
afternoon saw the EURO.USD jump above the 1.2700 level, it could not stay above
that level for long but with events unfolding in Washington today it might just
get there again and stay there this time.
Up
today we get the US Federal Reserve announcement on interest rates and while we
are not expecting any change in interest rates (current rate is 0.25%)fully half
the financial institutions that deal with the Fed are expecting that they will
introduce further stimulus measures for the US economy. I agree with this view
that they will do something today as they don't meet again until July and after
that they won't change policy ahead of November so they are not seen as
influencing the Presidential election. If they do introduce some new stimulus
then the equity markets will all jump higher and the US Dollar will trade
lower.
The
Canadian Dollar had another quiet night but it continues to hold onto its gains
yesterday as it finally broke below the 1.0200 level for the first time in days
as the US Dollar weakened against the Euro and other currencies. If we do get
new stimulus measures in the US today USD.CAD will fall towards the 1.0150 level
and if it is Status Quo below the border then look for it to jump back to
1.0250.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
Wednesday June 20,
2012
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0174 | 1.0226 | |||||
| CAD/USD | 0.9829 | 0.9779 | |||||
| EUR/USD | 1.2687 | 1.2612 | |||||
| EUR/CAD | 1.2905 | 1.2899 | |||||
| STG/CAD | 1.6006 | 1.6028 | |||||
| AUD/CAD | 1.0371 | 1.0329 | |||||
| CAD/JPY | 77.57 | 77.14 | |||||
| CAD/CHF | 0.9296 | 0.9306 | |||||
| CAD/HKD | 7.6208 | 7.5829 | |||||
| CAD/CNY | 6.2485 | 6.2149 | |||||
| CAD/MXN | 13.4547 | ||||||
| Commodities | |||||||
| Gold | $1,613 | $1,630 | |||||
| OIL | $84.03 | $83.14 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 15.29% | 15.35% | |||||
| 1 Week | 10.06% | 10.68% | |||||
| 1 Month | 9.66% | 9.94% | |||||
Today's Economic Calendar
USA
US Federal Reserve Announcement on Interest Rates (14:30)
CANADA
None
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