Today’s
expected range for the Canadian Dollar against the US Dollar is .9800-.9875
Today’s
expected range for the Canadian Dollar against the Euro is 1.2620-1.2700
Today’s
expected range for the Canadian dollar against Sterling is 1.5910-1.6000
The
US Dollar is unchanged this morning as there were very little events of
significance overnight to move the markets, the EURO is right were left it
yesterday, it did trade weaker on reports that German unemployment rose for the
6th straight month, in Spain there were reports of further protest
in Madrid as the government introduced further budget cuts and growth measures
to try and get that economy going and in the UK the economy grew at an
annualized pace of -0.4%, a decline which was less than expected. On this report
GBP.USD rose to trade at 1.6220 but it has since given back a little of the
strength.
The
Canadian Dollar pulled back a bit of strength last night (as did all commodity
currencies) but continues to trade in very tight overnight ranges. This morning
we have a heavy US economic Calendar led by the US GDP 2nd Q report.
The financial markets are expecting a growth rate of 1.7% so anything significantly
less than that will hit the equity markets hard and drive USD.CAD higher. Ahead
of that report it does look with equity futures pointing to a higher opening
that USD.CAD wants to drop a bit further, if you do need to buy some USD today
you might want to consider doing it before 08:30, in my mind is hard to imagine
a US GDP report that will blow away market expectations so a big drop in
USD.CAD I think would be unrealistic at this point but we shall see. IF the number comes in as
expected then I think the Loonie trading range will once again be muted
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Thursday September 27, 2012 | |||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9831 | 0.9809 | |||||
| CAD/USD | 1.0172 | 1.0195 | |||||
| EUR/USD | 1.2862 | 1.2862 | |||||
| EUR/CAD | 1.2647 | 1.2618 | |||||
| STG/CAD | 1.5927 | 1.5884 | |||||
| AUD/CAD | 1.0214 | 1.0134 | |||||
| CAD/JPY | 78.96 | 79.14 | |||||
| CAD/CHF | 0.9551 | 0.9574 | |||||
| CAD/HKD | 7.8628 | 7.8819 | |||||
| CAD/CNY | 6.4025 | 6.3029 | |||||
| CAD/MXN | 13.0679 | 13.1473 | |||||
| Commodities | |||||||
| Gold | $1,757 | $1,766 | |||||
| OIL | $90.89 | $90.69 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 8.50% | 9.62% | |||||
| 1 Week | 6.80% | 7.07% | |||||
| 1 Month | 6.60% | 6.57% | |||||
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