Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0250-1.0330
Today’s
expected range for the Canadian Dollar against the Euro is 1.3350-1.3425
Today’s
expected range for the Canadian Dollar against Sterling is 1.5450-1.5525
The
US Dollar is marginally stronger this morning as worrying reports out of China
have hit global stocks and given a small boost to the Greenback. Data out of
China showed that their service industry grew at the slowest pace since last
September but more worrying was the announcement of tighter mortgage rules
designed to cool off the Chinese property market, if China was to have a
property bubble I think the markets around the world would feel it, especially here
in Canada where Chinese investment in our local real estate market is a big
reason we have seen such a rise over the last 10 years.
The
Euro continues to trade under pressure with EURO.USD falling to 1.2980
overnight and EURO.CAD falling to trade at 1.3380. Calls for a new Italian
election are once again putting pressure on the Euro, I think Italy will be a
mess for a while yet.
The
Canadian dollar continues to trade close to the 1.0300 level as it looks for a
new direction, after Friday’s in line with expectation GDP report the Loonie
was able to pullback some strength, it will now be interesting to see if the
Loonie can maintain the momentum and move back towards 1.0200 or again remain
week and head back above 1.0300. We should have an active week with the Bank of
Canada interest announcement on Wednesday and then the US and Canadian
employment reports on Friday.
Have
a great week
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0289 | 1.0319 | |||||
| CAD/USD | 0.9719 | 0.969 | |||||
| EUR/USD | 1.3 | 1.3019 | |||||
| EUR/CAD | 1.3379 | 1.3437 | |||||
| STG/CAD | 1.5483 | 1.5502 | |||||
| AUD/CAD | 1.0438 | 1.0513 | |||||
| CAD/JPY | 90.84 | 90.06 | |||||
| CAD/CHF | 0.9155 | 0.9112 | |||||
| CAD/HKD | 7.5158 | 7.4938 | |||||
| CAD/CNY | 6.0242 | ||||||
| CAD/MXN | 12.4676 | ||||||
| Commodities | |||||||
| Gold | $1,576 | $1,567 | |||||
| OIL | $90.55 | $91.41 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 10.00% | 7.24% | |||||
| 1 Week | 8.50% | 8.59% | |||||
| 1 Month | 7.42% | 7.15% | |||||
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