Today’s
expected range for the Canadian Dollar against the US Dollar is .9970-1.0035
Today’s
expected range for the Canadian Dollar against the Euro is 1.2670-1.2770
Today’s
expected range for the Canadian Dollar against Sterling is 1.5830-1.5930
The
Us Dollar is marginally weaker this morning, the Euro is approaching a two
month low as the risk of Greece running out of funds increases. The have a 3
Billion one and 3 month auction tomorrow and Friday they have a 5 Billion
redemption coming due. Having passed the austerity budget yesterday amongst
riots in the streets Greece should qualify for a 31 Billion Euro payment but
the EU is still debating that payment at the moment and it may not arrive in
time to avoid a default. I heard a very interesting comment on CBC this morning
ad it was that the Neo-Nazi party is sitting third amongst popular opinion in
Greek political polls. If this is true it takes you back to Germany in the
early 1930’s when unemployment was high, there were riots in the streets, inflation
was rampant , the government was required to make massive payments for the 1st
world war and the Deutschemark was being devalued. You can see the analogies to
present day Greece, I am not sure the extreme parties would ever come to power
today but it just highlights how difficult the task ahead for the Greeks and
Europe is .
The Canadian Dollar is still unable to hold any attempts to fall below par, every time USD.CAD tries to break above 1.000 it is rebuffed and falls back. I think this is nothing more than the fact that there are so many US Dollars sellers at these levels that it will take a few runs to break through. Given that the Loonie is not really rallying either so I think USD.CAD will trade back and forth around par for the next little while. Equity markets are pointing higher to start the week, if they can hold that strength then we may see USD.CAD fall back towards .9970.
Just a quick reminder that today is the observance of Remembrance Day so the banks are closed, we will not be able to affect any wire payments today.
Have
a great day
Mike| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9994 | 1.0003 | |||||
| CAD/USD | 1.0006 | 0.9997 | |||||
| EUR/USD | 1.2709 | 1.2718 | |||||
| EUR/CAD | 1.2702 | 1.2726 | |||||
| STG/CAD | 1.5863 | 1.5944 | |||||
| AUD/CAD | 1.0398 | 1.0393 | |||||
| CAD/JPY | 79.43 | 79.12 | |||||
| CAD/CHF | 0.9483 | 0.9469 | |||||
| CAD/HKD | 7.7354 | 7.7421 | |||||
| CAD/CNY | 6.2291 | 6.2443 | |||||
| CAD/MXN | 13.1965 | ||||||
| Commodities | |||||||
| Gold | $1,735 | $1,732 | |||||
| OIL | $85.88 | $84.85 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.50% | ||||||
| 1 Week | 7.00% | ||||||
| 1 Month | 7.00% | ||||||
No comments:
Post a Comment