Today's
expected range for the Canadian Dollar against the US Dollar is .9975-1.0050
Today's
expected range for the Canadian Dollar against the Euro is 1.2310-1.2400
Today's
expected range for the Canadian Dollar against Sterling is 1.5640-1.5750
The
US Dollar is marginally weaker this morning as global investors around the
world await the announcements from the US Federal Reserve (today at 2:15pm) and
the European Central Bank (tomorrow at 08:30am). There is growing expectation
that they will have to announce concrete action to support their economies as
the evidence of a global slowdown continues to mount. Overnight reports showed
that the Chinese PMI Manufacturing fell the most in 8 months and in the UK a
report showed manufacturing shrank the most in the last three years, not a
pretty picture being painted at the moment.
The
Canadian dollar had another quiet session as it struggles to break parity,
yesterday's Canadian GDP report was a little below the expectation, with global
growth falling it won't be long before our growth rate in Canada is affected as
well.
Trading
today will of course be dominated by the Federal Reserve announcement, ahead of
that I think USD.CAD will take a good run at par as the North American equity
markets are going to open higher. If the Federal Reserve disappoints today look
for equities to nose dive and USD.CAD to jump higher, if equity markets like
their stimulus package then USD.CAD could easily be at .9975.
I
will send out a currency alert later today with an update.
Have
a great day
Mike
GFX
Morning Currency Rates
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Wednesday August 01,
2012
|
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| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.001 | 1.001 | |||||
| CAD/USD | 0.999 | 0.999 | |||||
| EUR/USD | 1.231 | 1.2283 | |||||
| EUR/CAD | 1.2323 | 1.2296 | |||||
| STG/CAD | 1.5645 | 1.57 | |||||
| AUD/CAD | 1.0536 | 1.0534 | |||||
| CAD/JPY | 78.03 | 78.08 | |||||
| CAD/CHF | 0.974 | 0.9763 | |||||
| CAD/HKD | 7.74 | 7.7393 | |||||
| CAD/CNY | 6.3603 | 6.3515 | |||||
| CAD/MXN | 13.2833 | 13.2285 | |||||
| Commodities | |||||||
| Gold | $1,614 | $1,624 | |||||
| OIL | $88.25 | $90.01 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 14.23% | 11.62% | |||||
| 1 Week | 9.38% | 8.69% | |||||
| 1 Month | 8.30% | 8.02% | |||||
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