GFx Morning FX Commentary November 26th, 2012

Good Morning,

Today's expected range for the Canadian Dollar against the US Dollar is .9900-.9975

Today's expected range for the Canadian Dollar against the Euro is 1.2860-1.2930

Today's expected range for the Canadian Dollar against Sterling is 1.5860-1.5940

The US Dollar is marginally stronger this morning as EURO.USD is weaker on nervousness on the EU Finance Ministers meeting on Greek aid and the gains the separatists made in Catalonian (the region that includes Barcelona) in weekend elections. It is expected that the will continue the flow of funds to Greece but with the EU nothing is certain so investors are a little nervous.

The Canadian dollar is marginally weaker this morning but it is still holding onto strength above par as currency traders continue to ignore the Loonie. The early reports from Black Friday seem to indicate that Americans opened their wallets so equity markets should like that when the final numbers come in, up today we get “Cyber Monday” which will be closely watched to see how online shopping is doing.

Equities are pointing lower to start the new week and with no economic reports due out today I am not looking for much of a range, USD.CAD should pull back higher a little testing the .9950 level but for the most part it should be a quiet day.

 

Have a great day

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		0.9929			0.9968
CAD/USD		1.0071			1.0032
EUR/USD		1.2968			1.2901
EUR/CAD		1.2881			1.2861
STG/CAD		1.5914			1.5892
AUD/CAD		1.0375			1.04
CAD/JPY		82.64			82.5
CAD/CHF		0.9348			0.9366
CAD/HKD		7.7824			7.7536
CAD/CNY		6.2668			6.2468
CAD/MXN		13.0683			13.0758
Commodities
Gold		$1,749			$1,734
OIL		$87.94			$87.18
Option Volatility
Canada
O/N		7.17%			5.09%
1 Week		5.18%			4.96%
1 Month		5.09%			5.50%