Today’s
expected range for the Canadian Dollar against the US Dollar is .9950-1.0050
Today’s
expected range for the Canadian Dollar against the Euro is 1.2820-1.2920
Today’s
expected range for the Canadian Dollar against Sterling is 1.6020-1.6120
The
US Dollar is marginally higher this morning as positions are squared up ahead
of the all-important US jobs report this morning, EURO.USD again dropped last
night and is trading below 1.2900 as the US dollar is at its strongest level in
days. The currency markets are expecting another 125,000 new jobs to have been
created in the US (following the increase of 114,000 last month) with a slight
jump in the unemployment rate to 7.9%. A big increase in the employment picture
should be equity positive and would push the US Dollar lower today and if the
number disappoints then I think you will see nervous equity markets give up
some strength and the US Dollar will jump.
The
Canadian Dollar had a very quiet night and is basically at the same point when
we went home last night, it is holding onto the strength is grabbed yesterday.
In addition to the US number which will dominate the currency markets we have the
Canadian employment report being released today and we are expecting 10k jobs
to have been created (52.1K created last month) and an unemployment rate of
7.4% (unchanged). When you tie this
number in with the poor GDP report from earlier in the week we can easily see
the Canadian economy is slowing and not creating many jobs, a poor number may
give USD.CAD the necessary push above parity this morning, a strong report
should push us back below .9950.
Have
a great weekend
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9974 | 1.0002 | |||||
| CAD/USD | 1.0026 | 0.9998 | |||||
| EUR/USD | 1.2878 | 1.2943 | |||||
| EUR/CAD | 1.2848 | 1.2948 | |||||
| STG/CAD | 1.6059 | 1.6174 | |||||
| AUD/CAD | 1.0347 | 1.0354 | |||||
| CAD/JPY | 80.46 | 79.95 | |||||
| CAD/CHF | 0.9388 | 0.932 | |||||
| CAD/HKD | 7.7476 | 7.7247 | |||||
| CAD/CNY | 6.2525 | 6.2416 | |||||
| CAD/MXN | 13.0562 | 13.0916 | |||||
| Commodities | |||||||
| Gold | $1,709 | $1,723 | |||||
| OIL | $86.39 | $86.42 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.29% | 10.02% | |||||
| 1 Week | 7.45% | 7.54% | |||||
| 1 Month | 6.49% | 6.59% | |||||
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