GFX Morning FX Commentary, May 24, 2012

Good Morning,

Today’s suggested range for the Canadian dollar against the US Dollar is 1.0210 – 1.0285

Today’s suggested range for the Canadian dollar against the Euro is 1.2825 – 1.2925

Today’s suggested range for the Canadian dollar against Sterling is 1.6025 – 1.6125

The EUR/USD declined to 22 month lows at 1.2516 overnight on poor economic
data showing German PMI and German IFO index weaker than expected.
 Since making new lows the Euro has bounced mostly on profit taking as the single
currency remains vulnerable to the threat of Greece leaving the Euro. The British Pound
 is also off its worst levels from the overnight session as worse than expected GDP data undermined the currency. The sentiment remains US Dollar bullish but with the
market being so long expect interruptions in the trend, especially as we approach the
long weekend in the U.S. and position squaring. The Canadian dollar was stuck
 between yesterday’s range and appears sidelined on the 1.02 level with no
economic releases today or tomorrow.

The Dow futures are pointing higher by 40 in pre-market trading helped by a bounce in both oil and gold overseas. In the U.S. today we have jobless claims and durable goods orders due out.

Have a great day!

GFX Morning Currency Rates
Thursday, May 24 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0236			1.0228
CAD/USD		0.9769			0.9777
EUR/USD		1.2579			1.2646
EUR/CAD		1.2879			1.2935
STG/CAD		1.6048			1.6086
AUD/CAD		1.0015			0.9968
CAD/JPY		77.51			77.56
CAD/CHF		0.9321			0.9279
CAD/HKD		7.583			7.5928
CAD/CNY		6.1951			6.1903
CAD/MXN		13.6173			13.667
Commodities
Gold		$1,566			$1,559
OIL		$90.96			$90.94
Option Volatility
Canada
O/N		15.03%			12.13%
1 Week		11.28%			10.24%
1 Month		11.50%			11.18%

GFX Morning FX Commentary, May 22, 2012

Good Morning,

Today’s suggested range for the Canadian dollar against the US Dollar is 1.0130 – 1.0200

Today’s suggested range for the Canadian dollar against the Euro is 1.2950 – 1.3050

Today’s suggested range for the Canadian dollar against Sterling is 1.6000 – 1.6100

Welcome back from the holiday weekend. Looking at the currency markets the commodity based currencies are slightly stronger with a strong showing yesterday in the equity markets from the Dow posting triple digit gains. The British Pound is weaker following inflation data that was slightly below expectations. Also weighing on the Sterling was comments from the IMF suggesting Britain could do more to drive their economy. The Euro is hovering at the low end of its overnight range with the EU Summit in Brussels set for Wednesday. The economic calendar for North America today is all contained south of the border with existing home sales for April and the Richmond Fed Manufacturing index for May due out.

The Dow futures are pointing slightly above the flat line which is positive given the strong performance yesterday, which was primarily driven by China pledging to keep the domestic economy growing. Both oil and gold are marginally weaker on lingering concerns about the Euro zone crisis.

Have a great day!

GFX Morning Currency Rates
Tuesday, May 22 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0182			1.0175
CAD/USD		0.9821			0.9828
EUR/USD		1.2751			1.2692
EUR/CAD		1.299			1.2915
STG/CAD		1.6056			1.6065
AUD/CAD		1.0059			1.0037
CAD/JPY		78.28			77.89
CAD/CHF		0.9242			0.9297
CAD/HKD		7.6282			7.6307
CAD/CNY		6.2062			6.209
CAD/MXN		13.4751
Commodities
Gold		$1,578			$1,591
OIL		$92.20			$92.67
Option Volatility
Canada
O/N		14.67%			12.19%
1 Week		10.51%			11.60%
1 Month		10.93%			11.46%

GFX Morning FX Commentary, May 18, 2012

Good Morning,

Today’s suggested range for the Canadian dollar against the US Dollar is 1.0125 – 1.0225

Today’s suggested range for the Canadian dollar against the Euro is 1.2875 – 1.2975

Today’s suggested range for the Canadian dollar against Sterling is 1.6025 – 1.6125

Investor fears spiked in the Asian session with the Nikkei down 3% and the US Dollar  making
fresh highs against most major currencies. The European stocks are still in the red but off their worst levels at the start of the North American session, where it  looks like some of the investor anxiety is fading.  The G-8 industrial  countries meet this weekend and will try and calm the market fears over the Euro zone crisis. The Canadian dollar is off its worst levels from the Asia session as we now await the the consumer price index in Canada with inflation expected y/y at 1.9% and m/m 0.2%.  The Euro bounced in the European session on rumours of a Spanish short selling ban which pushed the single currency back above EUR/USD 1.2700.

The Dow futures are pointing higher by 55 points in pre-market as the highly anticipated IPO for Facebook is launched today. Today being Friday ahead of the weekend position squaring will dominate trading, and any early G-8 headlines could also make for choppy trading.

Have a great weekend!

GFX Morning Currency Rates
Friday, May 18 2012
Currencies	7:00am Today's Opening				Yesterday's Opening
USD/CAD		1.0175			1.0135
CAD/USD		0.9828			0.9867
EUR/USD		1.2692			1.2695
EUR/CAD		1.2915			1.2872
STG/CAD		1.6065			1.6077
AUD/CAD		1.0037			1.0053
CAD/JPY		77.89			79.11
CAD/CHF		0.9297			0.9327
CAD/HKD		7.6307			7.6615
CAD/CNY		6.209			6.2369
CAD/MXN
Commodities
Gold		$1,591			$1,547
OIL		$92.67			$92.86
Option Volatility
Canada
O/N		12.19%			15.08%
1 Week		11.60%			10.91%
1 Month		11.46%			10.69%