Today's
expected range for the Canadian Dollar against the US Dollar is 1.0100-1.0200
Today's
expected range for the Canadian Dollar against the Euro is 1.2550-1.2675
Today's
expected range for the Canadian Dollar against Sterling is 1.5760-1.5900
The
US Dollar is stronger this morning as the economic comments expressed by ECB
Governor Draghi yesterday at his press conference counted more than the
interest rate cuts. Supporting the US dollar also was comments from the
People's Republic Bank of China spokesperson that it is unlikely China will hit
their 10% growth target this year, poorer than expected manufacturing data out
of Europe and higher borrowing costs for Spain. Clearly investors are very
worried about the Global economy and once again have pushed equities lower and
the US Dollar higher.
Today's
trading will be dominated by the US and Canadian employment reports where in
the US we are expecting another 100k jobs to have been created and an
unemployment rate of 8.2%, in Canada we are expecting 5K jobs to have been
created in June, anything less than expectation with these numbers should push
equities lower and the US Dollar higher.
The
Canadian Dollar remains on the sidelines against the US Dollar as it continues
to strengthen slightly, most of the action for the Loonie is against the Euro
and Sterling where it continues to make new highs.
As
mentioned the direction of USD.CAD today
will come from the US and Canadian employment reports and of course the direction
of equity markets on the back of those numbers. A strong showing from the US
will push equities higher and USD.CAD lower, a very poor showing will push
USD.CAD back towards 1.0200
Have
a great weekend
Mike
GFX
Morning Currency Rates
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Friday July 6th,
2012
|
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| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0153 | 1.0132 | |||||
| CAD/USD | 0.9849 | 0.9869 | |||||
| EUR/USD | 1.5339 | 1.2506 | |||||
| EUR/CAD | 1.2566 | 1.2624 | |||||
| STG/CAD | 1.578 | 1.5761 | |||||
| AUD/CAD | 1.0417 | 1.0416 | |||||
| CAD/JPY | 78.64 | 78.56 | |||||
| CAD/CHF | 0.9532 | 0.9474 | |||||
| CAD/HKD | 7.6302 | 7.6476 | |||||
| CAD/CNY | 6.3658 | 6.356 | |||||
| CAD/MXN | 13.16 | ||||||
| Commodities | |||||||
| Gold | $1,592 | $1,618.93 | |||||
| OIL | $85.78 | $88.13 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 9.57% | 14.05% | |||||
| 1 Week | 9.07% | 9.19% | |||||
| 1 Month | 8.65% | 8.72% | |||||
Today's Economic Calendar
USA
Employment Report for June (08:30)
CANADA
Employment Report for June (08:30)
Building Permits for May (8:30)
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