Today's
expected range for the Canadian Dollar against the US Dollar is .9890-.9975
Today's expected range for the Canadian Dollar against the Euro is 1.3220-1.3300
Today's
expected range for the Canadian Dollar against Sterling is 1.5740-1.5800
The
US Dollar is marginally weaker this morning as the Euro has risen on the German
Investor Confidence report that showed investor confidence in Europe's largest
economy increased to a 2 1/2 year high.
Elsewhere
it was an active night, in the UK the pound hit an 11 month low against the
Euro as the December budget deficit was higher than expected and in Japan
investors were disappointed as the new Bank of Japan stimulus program was less
than expected.
The Canadian Dollar is slightly stronger this morning but still remains above the .9900 level in a subdued overnight trading session.
Up
today we get some secondary US data along with the Canadian Retail Sales report
for November, we are expecting a decrease month-over-month of 0.1% so another worrying
sign about the Canadian economy. Tomorrow we get the Bank of Canada interest
rate policy announcement, watchers of the Canadian economy will be very
interested to see what the Bank has to say about the slowing economy and what
it means for low interest rates.
For
today I think US Dollar sellers need to be ready if we get a move towards
.9950, I am still not convinced that this move can be sustained and would
expect at some point the Loonie to show signs of strength.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9918 | 0.9928 | |||||
| CAD/USD | 1.0092 | 1.0072 | |||||
| EUR/USD | 1.335 | 1.3312 | |||||
| EUR/CAD | 1.3243 | 1.3218 | |||||
| STG/CAD | 1.5744 | 1.5768 | |||||
| AUD/CAD | 1.0486 | 1.0447 | |||||
| CAD/JPY | 89.47 | 90.12 | |||||
| CAD/CHF | 0.9363 | 0.9379 | |||||
| CAD/HKD | 7.7455 | 7.7869 | |||||
| CAD/CNY | 6.2676 | 6.2637 | |||||
| CAD/MXN | 12.7711 | 12.727 | |||||
| Commodities | |||||||
| Gold | $1,691 | $1,688 | |||||
| OIL | $95.51 | $95.25 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 7.58% | 8.00% | |||||
| 1 Week | 6.15% | 5.99% | |||||
| 1 Month | 5.84% | 5.88% | |||||
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