Today's expected range for the Canadian Dollar against the
US Dollar is .9940-1.0020
Today's expected range for the Canadian Dollar against the
Euro is 1.3450-1.3525
Today's expected range for the Canadian Dollar against
Sterling is 1.5600-1.5675
The US Dollar is marginally stronger this morning as the
Euro consolidates ahead of tomorrow's ECB interest rate announcement. Last
night EURO.USD fell to a one-week low as acquisitions of corruption in the
Spanish Government are thrown at Prime Minister Rajoy, Euro investors are still
wary of the so called recovery and stand ready to sell the Euro at the sign of
any bad news.
The Canadian Dollar had a very quiet night and USD.CAD is
slightly higher that yesterday’s Toronto close, the Loonie is still managing to
hold onto its strength from the move back below parity on Friday.
With very little in economic data out today and currency markets setting
up for the ECB and Bank of England interest rate announcements tomorrow once
again I am not expecting much movement today, if USD.CAD does hit the high end
of our expected range then US Dollar sellers should be ready with some orders,
we will most likely be stuck in a narrow range.
This will be my last commentary until the week of the 18th,
Mrs. Smith and I are heading out to Florida for a few days to visit friends and
then we head out on a cruise for a week on Sunday. In my absence Rich will
publish the commentary and if you need anything Randy and Mike will cover my
desk. I would not expect the USD.CAD rate to be much different than it is today
when I get back, if you do see USD.CAD back up towards 1.0050 then US Dollar
sellers should look to put some orders in, we may get there on Friday if the
Canada Employment report is poor. If you see USD.CAD drop towards .9900 US
Dollar buys should get very active, you don't want to get hurt again by a move
parity.
Have a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 0.9974 | 0.9976 | |||||
| CAD/USD | 1.002 | 1.0024 | |||||
| EUR/USD | 1.3527 | 1.5454 | |||||
| EUR/CAD | 1.3494 | 1.5709 | |||||
| STG/CAD | 1.5621 | 1.5709 | |||||
| AUD/CAD | 1.0286 | 1.0364 | |||||
| CAD/JPY | 93.9 | 93.32 | |||||
| CAD/CHF | 0.9155 | 0.9102 | |||||
| CAD/HKD | 7.7527 | 7.7518 | |||||
| CAD/CNY | 6.245 | 6.241 | |||||
| CAD/MXN | |||||||
| Commodities | |||||||
| Gold | $1,668 | $1,680 | |||||
| OIL | $96.00 | $96.90 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 8.00% | 6.00% | |||||
| 1 Week | 5.96% | 6.50% | |||||
| 1 Month | 5.80% | 6.25% | |||||
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