Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0230-1.0310
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 the Sterling is 1.5530-1.5600
The
US Dollar is marginally weaker in quiet overnight trading as the Euro rose to
trade at a high of 1.3070 against the Greenback. In China the Central Communist
Party is meeting to make the change over in leaders and in a speech outgoing
Premier Wen Jiabao indicated that the new Government must continue to build a mildly
prosperous country that battles corruption and does not allow a housing bubble
to form. I think a pretty clear signal that the new Chinese administration will
stay the course in China, they will continue policy that will keep growth rates
high and look to continue to stem the property bubble that is forming. If
Chinese growth rates were to slip in the short-term I think it would mean real
hardship for the world equity markets, Investors will be watching early on to
see what is coming out of China.
The
Canadian Dollar pulled back all it loses from yesterday but still basically
trades in the 1.2050 to 1.0300 trading range with little on the horizon today to
signify a big break out on either side. We do get the release of the US ISM report
which once again is expected to show growth in the US economy but I don’t think
it will move the markets that much. As we get into the afternoon session the Canadian
market will remain steady and get setup for the Bank of Canada tomorrow, make
sure you get your orders in early as the markets could be very volatile after
the announcement. I will summaries what we are looking from the Bank in
tomorrow’s commentary.
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0265 | 1.0289 | |||||
| CAD/USD | 0.9742 | 0.9719 | |||||
| EUR/USD | 1.3032 | 1.3 | |||||
| EUR/CAD | 1.3379 | 1.3379 | |||||
| STG/CAD | 1.5554 | 1.5483 | |||||
| AUD/CAD | 1.0495 | 1.0438 | |||||
| CAD/JPY | 90.71 | 90.84 | |||||
| CAD/CHF | 0.9177 | 0.9155 | |||||
| CAD/HKD | 7.536 | 7.5158 | |||||
| CAD/CNY | 6.0575 | ||||||
| CAD/MXN | 12.4053 | 12.4676 | |||||
| Commodities | |||||||
| Gold | $1,582 | $1,576 | |||||
| OIL | $90.28 | $90.55 | |||||
| Option Volatility | |||||||
| Canada | |||||||
| O/N | 10.42% | 10.00% | |||||
| 1 Week | 8.13% | 8.50% | |||||
| 1 Month | 7.22% | 7.42% | |||||
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