Today’s
expected range for the Canadian Dollar against the US Dollar is .9780-.9875
Today’s
expected range for the Canadian Dollar against the Euro is 1.2685-1.2750
Today’s
expected range for the Canadian Dollar against Sterling is 1.5850-1.5950
The
US Dollar is marginally weaker this morning in quiet trading conditions. The
big mover overnight was the Australian Dollar where the Reserve Bank of Australia
unexpectedly lower its key interest rates by 0.25% to 3.25%, its lowest level
since 2009, in their comments they also announced that the resource boom that
fueled the countries growth over the past 20 years may come to a quicker end
than they had previously thought. This bears watching in the Canadian markets,
Australia is very dependent on Chinese demand, Canada a little less so as most of our energy exports
head to the USA but China still plays a big role in the Canadian economy, if
Australia is going to experience a slowdown then how far behind can Canada be?
Financial
markets this morning have been distracted by the announcement that the State Attorney
General of New York is suing JP MorganChase for mortgage fraud in their Bear
Stearns unit, which they were forced to buy at the time of the 2008 financial system
collapse by the Federal Government. This will be a multi-billion dollar lawsuit
(very similar to what Bank of America just settled) and will most likely go on
for years, but once again it will shine the spotlight on the US financial
system.
Nothing
new to report on the Canadian Dollar, it continues to hang around the.9800
level with very little interest in moving one way or another. With no major
economic releases this morning it is unlikely that today will be a breakout day
for the Loonie, with equities once again poised to have a strong day I would
think that USD.CAD would move a little lower at some point but nothing of
significance.
Have
a great day
Mike| GFX Morning Currency Rates | |||||||
| Tuesday October 02,
2012 |
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9817 | 0.9828 | |||||
| CAD/USD | 1.0186 | 1.017 | |||||
| EUR/USD | 1.2924 | 1.2893 | |||||
| EUR/CAD | 1.2688 | 1.2672 | |||||
| STG/CAD | 1.5862 | 1.5865 | |||||
| AUD/CAD | 1.0096 | 1.0165 | |||||
| CAD/JPY | 79.52 | 79.28 | |||||
| CAD/CHF | 0.953 | 0.9553 | |||||
| CAD/HKD | 7.89 | 7.8664 | |||||
| CAD/CNY | 6.4392 | 6.3927 | |||||
| CAD/MXN | 13.06 | 13.081 | |||||
| Commodities | |||||||
| Gold | $1,782 | $1,771 | |||||
| OIL | $92.63 | $91.93 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 11.05% | 11.03% | |||||
| 1 Week | 7.89% | 7.90% | |||||
| 1 Month | 7.29% | 7.25% | |||||
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