GFX Morning FX Commentary

Good Morning,

Today’s expected range for the Canadian Dollar against the US Dollar is 1.0580-1.0650

Today’s expected range for the Canadian Dollar against the Euro is 1.4500-1.4560

Today’s expected range for the Canadian Dollar against Sterling is 1.7350-1.7420

The US Dollar is marginally stronger this morning in quiet overnight trading ranges, the markets have already started to wind down for the Christmas holiday break. The big mover overnight was USD.JPY as the Greenback almost reached a 5-year high against the Yen. The Dollar is moving stronger against the Yen as the US economy is starting to unwind stimulus where the Japanese economy is continuing to increase it stimulus package, we should see the Yen continue to weaken over the next few months.

We should have a quiet day as markets wind up around noon, we do get the release of some secondary data this morning including US durable goods orders for the month of November, we may see a little bit of volatility when that report comes to market but for the most part we should remain near current levels over the holiday break.

Our office will be closing today at noon and we have a cut-off time for deals settling today at 11:00 am, if you do need to do anything for today please contact us early so we can make sure it gets settled. As the Loonie will be trading in the US markets on Thursday make sure you get your orders in early.

On behalf of everyone here at GFX let me take this opportunity to wish all readers a very Merry Christmas, even if you do not celebrate the holiday enjoy the quiet time with your families.

Have a great holiday

Mike

GFX Morning Currency Rates
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0613			1.06
CAD/USD		0.9422			0.9433
EUR/USD		1.3669			1.3684
EUR/CAD		1.4521			1.451
STG/CAD		1.7375			1.7339
AUD/CAD		0.9469			0.9477
CAD/JPY		98.21			97.94
CAD/CHF		0.8427			0.8444
CAD/HKD		7.2843			7.2929
CAD/CNY		5.7192			5.7267
CAD/MXN		12.2297			12.1954
Commodities
Gold		$1,198.60			$1,195.00
OIL		$99.17			$98.95
US DOLLAR INDEX
P.CLOSE		80.59			79.98
OPEN		80.66			80.6
US 10YR YIELD		2.95%			2.75%