Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0245-1.0330
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 1.5250-1.5325
The
US Dollar is marginally stronger in very quiet overnight markets. In Europe,
EURO.USD dropped to trade at 1.2995 from an overnight high of 1.3035 on more
investor concern about the Italian election result.
Sterling
is once again lower and hit a 2.5 year low against the Greenback when more poor
manufacturing data was released, GBP.USD
fell to trade at 1.4840 which amounts to a 6.7% drop from the beginning of the
year, it certainly looks that the negative data coming out of the UK will
continue and Sterling still has room to drop. The Loonie was also able to benefit
from the weak Pound as GBP.CAD fell to trade at 1.5250, this is the lowest
level for GBP.CAD in many years and we are starting to get close to the all-time
low of 1.4898 in 2010, if you are planning on going to visit Buckingham Palace
this summer your trip is getting cheaper all the time.
Nothing
really new to report on the Canadian dollar, we still have not been able to
break back below the 1.0250 level since the strong employment report on Friday,
the overall strength in the US Dollar is preventing that from happening and so
far USD.CAD has not been able to break back above the 1.0300 level as we see increasing
numbers of US Dollar sellers emerge, we may be stuck in this range for a while.
With the lack of economic reports today I would not expect much to happen, if
you need to sell some USD put your orders just ahead of 1.0300 and if you need
to buy some USD then put your orders just ahead of 1.0250.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0277 | 1.0285 | |||||
| CAD/USD | 0.973 | 0.9723 | |||||
| EUR/USD | 1.3012 | 1.3002 | |||||
| EUR/CAD | 1.3375 | 1.3371 | |||||
| STG/CAD | 1.5277 | 1.5311 | |||||
| AUD/CAD | 1.0578 | 1.0523 | |||||
| CAD/JPY | 93.26 | 93.34 | |||||
| CAD/CHF | 0.9219 | 0.9241 | |||||
| CAD/HKD | 7.5459 | 7.5395 | |||||
| CAD/CNY | 6.0486 | 6.0455 | |||||
| CAD/MXN | 12.2556 | ||||||
| Commodities | |||||||
| Gold | $1,584.10 | $1,578.58 | |||||
| OIL | $91.89 | $91.71 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 9.07% | 9.06% | |||||
| 1 Week | 6.44% | 6.73% | |||||
| 1 Month | 6.40% | 6.69% | |||||
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