Today’s
expected range for the Canadian Dollar against the US Dollar is .9800-.9870
Today’s
expected range for the Canadian Dollar against the Euro is 1.2820-1.2900
Today’s
expected range for the Canadian Dollar against Sterling is 1.5850-1.5930
The
US Dollar is marginally stronger this morning as equity markets around the
world turned negative on the US Federal Reserve announcement tying the interest
rate to the unemployment rate and the rate of inflation. EURO.USD flirted with the
1.3100 level for a while and then backed off to trade at 1.3050, Sterling is
also weaker this morning as a poor manufacturing report weighed on the Pound.
The
Canadian Dollar is unchanged against the US Dollar as the Loonie was once again
ignored by currency traders, the sentiment still seems to be forming for a
weaker US Dollar with a gradual strengthening for the Canadian Dollar, US
Dollar sellers need to stand ready to sell some forwards on any pullbacks
towards .9900 in the coming days, this rate may not seem attractive at the
moment but if I am right and we start to see USD.CAD moving back towards .9700
and .9600 in the coming weeks then having some forwards on at the .9850 to
.9900 levels will look very good.
Up
today we get the release of the US Retail Sales report for November and the
Producer Price Index for November, given that the Federal Reserve has tied the
interest rate to the inflation rate any inflation data will be watched all the
more closely by currency traders, any sign that inflation is starting to rise
will get currency traders excited and they will start to buy up the Greenback.
We also get some secondary Canadian economic data today so I am hopeful that we
get some enhanced volatility.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9836 | 0.9853 | |||||
| CAD/USD | 1.0164 | 1.0147 | |||||
| EUR/USD | 1.3054 | 1.0327 | |||||
| EUR/CAD | 1.2841 | 1.2837 | |||||
| STG/CAD | 1.5858 | 1.5908 | |||||
| AUD/CAD | 1.037 | 1.0392 | |||||
| CAD/JPY | 84.81 | 84.05 | |||||
| CAD/CHF | 94.5 | 0.9437 | |||||
| CAD/HKD | 7.8747 | 7.844 | |||||
| CAD/CNY | 6.3352 | 6.3415 | |||||
| CAD/MXN | 12.9679 | 12.9321 | |||||
| Commodities | |||||||
| Gold | $1,683 | $1,715 | |||||
| OIL | $86.20 | $86.28 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.00% | 7.48% | |||||
| 1 Week | 5.15% | 5.16% | |||||
| 1 Month | 5.08% | 5.08% | |||||
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