Today’s expected range for the Canadian Dollar against the US Dollar is .9875-.9950
Today’s
expected range for the Canadian Dollar against the Euro is 1.2940-1.3020
Today’s
expected range for the Canadian Dollar against Sterling is 1.5950-1.6020
The
US Dollar is marginally weaker this morning as the Euro pushed higher in early
overnight trading, in China the new government signaled that they would support
further urbanization of the country and strengthen real estate controls to
avoid a real estate bubble. The early strength in the Euro was cut short as the
Euro-Zone October Retail Sales report came out showing a bigger decrease than
expected, this was closely followed by a poor UK service industry growth
report, European currencies in general were sold off in quick fashion after
these reports.
The
Canadian Dollar is marginally stronger this morning as it continues to trade in
narrow overnight ranges, the Bank of Canada announcement yesterday came in
pretty much as expected so did not have a lasting effect on the currency in
overnight markets. Up today we do get some US manufacturing data but it most likely
will be skewed by the effects of hurricane Sandy so I am not sure how closely watched
the information will be.
For
now it looks like USD.CAD wants to test the lower end of our .9900-.9950
trading range, a strong manufacturing number from the US may give equities the
push that will drive USD.CAD below the .9900 level, if it does go below I would
not expect a big dip and US Dollar buyers need to be ready with their orders to
make sure they take advantage of the move.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.992 | 0.994 | |||||
| CAD/USD | 1.008 | 1.006 | |||||
| EUR/USD | 1.0386 | 1.308 | |||||
| EUR/CAD | 1.2989 | 1.3003 | |||||
| STG/CAD | 1.5984 | 1.6029 | |||||
| AUD/CAD | 1.0386 | 1.041 | |||||
| CAD/JPY | 82.81 | 82.45 | |||||
| CAD/CHF | 0.9354 | 0.9325 | |||||
| CAD/HKD | 7.7906 | 7.7756 | |||||
| CAD/CNY | 6.2725 | 6.26 | |||||
| CAD/MXN | 13.0523 | ||||||
| Commodities | |||||||
| Gold | $1,703 | $1,709 | |||||
| OIL | $88.58 | $86.86 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 6.20% | 6.50% | |||||
| 1 Week | 5.00% | 5.00% | |||||
| 1 Month | 4.80% | 4.80% | |||||
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