Today’s
expected range for the Canadian Dollar against the US Dollar is .9700-.9800
Today’s
expected range for the Canadian Dollar against the Euro is 1.2400-1.2500
Today’s
expected range for the Canadian Dollar against Sterling is 1.5550-1.5650
The
US Dollar is weaker this morning as a request by a German parliament group to
the German high court to delay the release of their vote on the legality of German
Government providing funding to the EU rescue Fund has been rejected, the
announcement is still scheduled for tomorrow at 10:00am London time. I get a
sense that investors are building a consensus that the court will rule in
favour of the Government but of course nothing is certain. The Euro was also
stronger on reports that Spain will not ask the EU for a full bailout but that
too remains to be seen.
The
Canadian Dollar has been the big beneficiary of the weaker USD overnight with
USD.CAD now looking like it wants to break below the .9700 level, once again we
have not seen these levels in a year for USD.CAD and with markets now getting over
weighted in Canadian dollars it would make sense for USD buyers to be buying at
these levels on a forward basis, pullbacks can be quick and violent.
The
only economic data we have for today is the trade data on both sides of the
border so not a lot to push the market, with North American equity markets pointing
higher look for USD.CAD to continue to have pressure to move lower throughout
the morning.
Have
a great day
Mike
GFX
Morning Currency Rates
|
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Tuesday September
11, 2012
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9738 | 0.9765 | |||||
| CAD/USD | 1.027 | 1.0241 | |||||
| EUR/USD | 1.279 | 1.2784 | |||||
| EUR/CAD | 1.2455 | 1.2485 | |||||
| STG/CAD | 1.56 | 1.5621 | |||||
| AUD/CAD | 1.0104 | 1.0106 | |||||
| CAD/JPY | 80.08 | 80.14 | |||||
| CAD/CHF | 0.9681 | 0.9676 | |||||
| CAD/HKD | 7.9409 | 7.92 | |||||
| CAD/CNY | 6.5041 | 6.4887 | |||||
| CAD/MXN | 13.3944 | 13.2813 | |||||
| Commodities | |||||||
| Gold | $1,735 | $1,735 | |||||
| OIL | $96.56 | $96.39 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.00% | 7.05% | |||||
| 1 Week | 6.90% | 6.89% | |||||
| 1 Month | 6.50% | 6.43% | |||||
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