GFX Morning FX Commentary Sept 17th, 2010

Good Morning,

Today’s expected range for the Canadian Dollar against the US Dollar is .9675-.9775

Today’s expected range for the Canadian Dollar against the Euro is 1.2730-1.2830

Today’s expected range for the Canadian Dollar against Sterling is 1.5750-1.5850

The US Dollar is marginally stronger this morning as equity markets have given back some of Friday’s gains in light trading conditions as Japan was closed for a holiday, the Euro is slightly weaker as in Spain the country wrestles with large protests against austerity at the same time the Government is considering  asking the EU for a full bailout. Even though the current ECB policy is  having a positive effect on the EURO, the crisis will still cause investors to be nervous about any pro-longed strength in the Euro.

The Canadian Dollar is weaker this morning as it gave back Friday’s strength and bounced after USD.CAD tried to get below the .9650 level.  With very little on the economic front today and with North American equity markets pointing a little lower to start the day I would expect USD.CAD to trade back up towards .9750 at some point. If you need to sell some US dollars in the near future you should really look at .9775 to .9800 as a good level to achieve, given the current situation I just don’t see USD.CAD getting back to parity in the near future.

Have a great week

Mike

GFX Morning Currency Rates
Monday September 17, 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		0.9715			0.965
CAD/USD		1.0293			1.0362
EUR/USD		1.3116			1.3091
EUR/CAD		1.2745			1.2654
STG/CAD		1.5777			1.5676
AUD/CAD		1.0203			1.0198
CAD/JPY		80.64			80.8
CAD/CHF		0.9541			0.9628
CAD/HKD		7.9564			8.0113
CAD/CNY		6.5046			6.542
CAD/MXN		13.1299			13.2536
Commodities
Gold		$1,773			$1,776
OIL		$98.86			$100.00
Option Volatility
Canada
O/N		10.99%			8.39%
1 Week		7.40%			6.61%
1 Month		6.54%			6.13%