1 euro to 1.3177 Canadian dollars,1 British pounds sterling = 1.5946 Canadian dollars, 1 US dollar = 1.0354 Canadian dollars

Canada August Retail Sales Up 0.5% On Gas Station Sales

Canadian retail sales rose unexpectedly in August after staying flat over the previous two months, led by higher gas station sales.
Retail sales rose 0.5% to C$36.08 billion (US$35.12 billion), following a 0.1% gain in July, revised up from a previously estimated decline of 0.1%, Statistics Canada said Friday. In volume terms sales rose 0.3%.
The market had expected the overall value of August sales to fall 0.1%.
Sales at gasoline stations were up 2.1% to C$3.84 billion, the second consecutive increase.
Sales at motor vehicle and parts dealers rose 0.7% to C$7.95 billion, with gains of 2.6% at automotive, parts, accessories and tire stores, and 1.0% at new car dealerships. Used car and other motor vehicle dealers posted declines following two monthly increases.
Excluding new and used vehicles and parts, sales rose 0.4% to C$28.13 billion after falling 0.2% in July, revised up from an initially estimated decline of 0.4%, StatsCan said. The market had expected ex-auto sales to rise 0.5%.
Food and beverage store sales rose 0.8% to C$8.75 billion, with gains reported at supermarkets and convenience stores. Beer, wine and liquor store sales fell 0.8%.
Sales at furniture and home furnishing stores rose 2.1% to C$1.20 billion, driven by a 7.0% increase at home furnishing stores following large fluctuations in recent months.
Overall, gains were reported in six of 11 retail subsectors.
Sales were down at clothing and clothing accessories stores, falling 0.8% to C$2.02 billion, with increases at shoe stores offset by lower sales at jewellery, luggage and leather goods stores. Sporting goods, hobby, book and music stores posted the sharpest declines, as sales fell 1.8% following two consecutive increases.
Sales were up in seven provinces in August. Retailers in Nova Scotia posted the largest percentage increase, with sales rising 3.4% to C$1.06 billion. Sales also rose in Alberta and Ontario, but were down in Prince Edward Island.


Canadian dollar Slips Modestly After Canada Sept CPI

USD/CAD has slipped modestly after the release of mixed Canadian CPI data for September. Headline annual inflation was exactly in line with consensus at 1.9% while core, which is monitored more closely by the Bank of Canada on a short-term basis, came in at 1.5%, slightly lower than the expected 1.6%. USD/CAD is at 1.0268 vs 1.0273 just before the data and 1.0279 late Thursday.



Canadian dollar October 22, 2010

USD/Canadian dollar to trade with risks skewed higher. Pair buoyed by positions adjustment before weekend and G20 meeting; weaker commodity and oil prices (Nymex crude settled down $1.98 yesterday at $80.56/bbl); surprise 0.1% drop in Canada September composite index of leading indicators (vs forecast for 0.2% gain). But USD/CAD gains tempered by positive global risk sentiment. Data focus: 1100 GMT Canada September CPI, 1230 GMT Canada August retail sales. USD/CAD daily chart positive-biased as MACD & stochastics bullish. Resistance at 1.0303 (yesterday''''s high); breach would expose upside to 1.0348 (Wednesday''''s high), then 1.0372-1.0379 band (Tuesday''''s high-Sept. 23 high), 1.0509 (Sept. 8 high), 1.0569 (Sept. 3 high) and 1.0672 (Aug. 31 reaction high). Support at 1.0163-1.0159 band (yesterday''''s low-Tuesday''''s low); breach would expose downside to 1.0075 (previous cap set Oct. 14), then 1.0008 (Oct. 15 low) and 0.9980 (5-month low set Oct. 14).



dollar Canadian dollar To October 20, 2010

dollar Canadian dollar  To  October 20, 2010
dollar Canadian dollar  To consolidate with bullish bias. CAD soft after Bank of Canada yesterday left its key rates unchanged as widely anticipated but slashed Canada''''s GDP growth forecasts for 2010 and 2011, and revised down its inflation outlook. dollar Canadian dollar also underpinned by China''''s rate hike, negative risk sentiment, weaker commodity & oil prices (Nymex crude settled down $3.59 yesterday at $79.49/bbl); but gains tempered by expectations of more QE measures from U.S. Federal Reserve. Data focus: 1230 GMT Canada August wholesale trade, 1430 GMT BOC monetary policy report. USD/CAD daily chart positive-biased as MACD & stochastics bullish; 5-day moving average staging bullish crossover against 15-day. Resistance at 1.0372-1.0379 band (yesterday''''s high-Sept. 23 high); breach would expose upside to 1.0509 (Sept. 8 high), then 1.0569 (Sept. 3 high) and 1.0672 (Aug. 31 reaction high). Support at 1.0228 (previous cap set Monday); breach would expose downside to 1.0159 (yesterday''''s low), then 1.0075 (previous cap set Thursday), 1.0008 (Friday''''s low) and 0.9980 (Thursday''''s 5-month low).


Canadian dollar September 19, 2010

Canadian dollar September 19, 2010
USD/CAD to trade with risks skewed higher. CAD softer on crosses as markets await BOC interest rate decision due 1300 GMT - bank widely expected to hold its key overnight target rate steady at 1.0% after 3 consecutive 25-bp rate hikes. USD/CAD also supported by USD-positive comments from U.S. Treasury Secretary Geithner; but topside limited by healthier investor risk appetite, expectations of more QE measures from U.S. Federal Reserve, firmer commodity & oil prices (Nymex crude settled up $1.83 yesterday at $83.08/bbl). USD/CAD daily chart positive-biased as stochastics rising from oversold, MACD staging bullish crossover against its exponential moving average, bullish parabolic stop-and-reverse signal hit at 1.0171 yesterday. Resistance at 1.0228 (yesterday''''s high, matching Oct. 8 high); breach would expose upside to 1.0272 (Oct. 5 high), then 1.0313 (Oct. 1 high, near 55-day moving average), 1.0346 (Sept. 30 high, matching 200-day moving average) and 1.0361 (Sept. 28 high, near 100-day moving average). Support at 1.0131 (hourly chart); breach would expose downside to 1.0075 (previous cap set Thursday), then 1.0008 (Friday''''s low), 0.9980 (Thursday''''s 5-month low), 0.9926 (April 21 low) and 0.9816 (May 21, 2008 reaction low).




U.S. dollar Exchange rate October 18, 2010

U.S. dollar Exchange rate October 18, 2010 Currency Bid Ask Chart USD/CAD 1.0144368 1.0181644 Chart USD/CHF 0.9595799 0.9629212 Chart USD/DKK 5.3299555 5.3984795 Chart USD/HKD 7.7502000 7.7666000 Chart USD/JPY 81.1549014 81.4551978 Chart USD/NOK 5.7787947 5.8738908 Chart USD/SEK 6.6036797 6.7252727 Chart USD/SGD 1.2975056 1.3056966 Chart USD/THB 29.2679430 30.3656109 Chart AUD/USD 0.9824409 0.9858601 Chart EUR/USD 1.3861005 1.3919006 Chart GBP/USD 1.5909431 1.5970582 Chart NZD/USD 0.7497865 0.7529148 Chart

Canadian dollar Exchange rate October 18, 2010

Canadian dollar Exchange rate October 18, 2010 Currency Bid Ask Chart CAD/DKK 5.2450036 5.3167985 Chart CAD/HKD 7.6199976 7.6499708 Chart CAD/JPY 79.8160091 80.1784942 Chart CAD/NOK 5.6867505 5.7851752 Chart CAD/SEK 6.4991236 6.6243814 Chart CAD/SGD 1.2761501 1.2852282 Chart CAD/THB 28.7734651 29.8823078 Chart AUD/CAD 0.9982121 1.0025950 Chart CHF/CAD 1.0547390 1.0596088 Chart EUR/CAD 1.4076596 1.4146683 Chart GBP/CAD 1.6157181 1.6232105 Chart NZD/CAD 0.7614568 0.7652379 Chart USD/CAD 1.0142371 1.0179641 Chart

USD/Canadian dollar To Consolidate This Week

USD/Canadian dollar (last 1.0139) is likely to consolidate this week as long as the pair stays above 0.9980, the five-month low set Thursday. The daily chart is mixed as the MACD indicator is bearish, but the stochastic measure has turned bullish at the oversold level. Resistance is at Tuesday's high of 1.0183; a breach would target the Oct. 8 high of 1.0227, and then the Oct. 5 high of 1.0272. An extension of the rise would target the 1.0361-1.0379 resistance band, marked by the Sept. 28 high and the Sept. 23 high, and then the Sept. 8 minor reaction high of 1.0509. But a fall below the 0.9980 support would reinstate the near-term negative outlook, targeting 0.9926, the April 21 trough. An extension of the fall would target 0.9816, the May 21, 2008 reaction low, and then 0.9708, the Feb. 28, 2008 reaction low. USD/CAD is likely to consolidate in the weeks ahead as long as the pair stays above 0.9926. A drop below this support would tilt the medium-term outlook toward negative, targeting 0.9708 -- below which would open the way down to the record low of 0.9065 set on Nov. 7, 2007.



Canadian dollar September 18, 2010

Canadian dollar September 18, 2010
USD/CAD to consolidate with risks skewed higher. Pair buoyed by USD-short covering, softer commodity & oil prices (Nymex crude settled down $1.44 Friday at $81.25/bbl); expectations BOC could pause its monetary tightening campaign at tomorrow''''s policy announcement. But USD/CAD gains tempered by ultra-loose U.S. monetary policy; big 2.0% rise in Canadian August manufacturing shipments (vs +0.5% forecast). Data focus: 1230 GMT Canada August international transactions in securities. USD/CAD daily chart mixed as MACD bearish, but stochastics turned bullish at oversold. Resistance at 1.0138 (Friday''''s high); breach would expose upside to 1.0183 (Tuesday''''s high), then 1.0227 (Oct. 8 high), 1.0272 (Oct. 5 high) and 1.0313 (Oct. 1 high, near 55-day moving average). Support at 1.0008 (Friday''''s low), then at 0.9980 (Thursday''''s 5-month low); breach would reinstate near-term negative bias, exposing downside to 0.9926 (April 21 low), then 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low).




Canadian dollar Exchange rate September 15, 2010

Canadian dollar Exchange rate September 15, 2010 Canadian dollar Exchange rate September 15, 2010 Currency Bid Ask Chart CAD/DKK 5.2422680 5.3141394 Chart CAD/HKD 7.7040542 7.7344246 Chart CAD/JPY 80.7984234 81.1659752 Chart CAD/NOK 5.6725349 5.7709232 Chart CAD/SEK 6.4733045 6.5984174 Chart CAD/SGD 1.2839623 1.2931110 Chart CAD/THB 29.0392223 30.1589916 Chart AUD/CAD 0.9943240 0.9986933 Chart CHF/CAD 1.0505266 1.0553929 Chart EUR/CAD 1.4083595 1.4153769 Chart GBP/CAD 1.6045390 1.6119903 Chart NZD/CAD 0.7590288 0.7627974 Chart USD/CAD 1.0032529 1.0069483 Chart

U.S. dollar Exchange rate September 15, 2010

U.S. dollar Exchange rate September 15, 2010 Currency Bid Ask Chart USD/CAD 1.0032529 1.0069483 Chart USD/CHF 0.9529883 0.9563129 Chart USD/DKK 5.2734865 5.3413485 Chart USD/HKD 7.7502000 7.7666000 Chart USD/JPY 81.2547597 81.5553394 Chart USD/NOK 5.7065139 5.8005717 Chart USD/SEK 6.5105947 6.6307577 Chart USD/SGD 1.2913232 1.2994790 Chart USD/THB 29.1989381 30.2946158 Chart AUD/USD 0.9892315 0.9926695 Chart EUR/USD 1.4010725 1.4069287 Chart GBP/USD 1.5969331 1.6030682 Chart NZD/USD 0.7551785 0.7583228 Chart

dollar Canadian dollar September 15, 2010

dollar Canadian dollar September 15, 2010
dollar Canadian to consolidate after setting 5-month low 0.9980 yesterday. Pair undermined negative USD sentiment, narrower-than-expected Canada August trade deficit of C$1.35 bln (vs C$2.3 bln forecast). But USD/CAD downside limited by weaker investor risk appetite, softer oil prices (Nymex crude settled down 32 cents yesterday at $82.69/bbl); expectations BOC could pause its monetary tightening campaign at policy announcement due Tuesday; positions adjustment before weekend. Data focus: 1230 GMT Canada August manufacturing survey, August new motor vehicle sales. dollar Canadian daily chart still negative-biased as MACD bearish, while stochastics stay suppressed at oversold, 5- & 15-day moving averages falling; but spinning-top candlestick pattern completed yesterday. Support at 0.9980 (yesterday''''s low); breach would expose downside to 0.9926 (April 21 low), then 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low). Resistance at 1.0075 (yesterday''''s high); breach would expose upside to 1.0183 (Tuesday''''s high), then 1.0227 (Oct. 8 high), 1.0272 (Oct. 5 high) and 1.0313 (Oct. 1 high, near 55-day moving average).



Canadian dollar Exchange rate September 14, 2010

Canadian dollar Exchange rate September 14, 2010 Currency Bid Ask Chart CAD/DKK 5.2537154 5.3257982 Chart CAD/HKD 7.7554568 7.7860707 Chart CAD/JPY 81.0323825 81.4016857 Chart CAD/NOK 5.6707533 5.7692244 Chart CAD/SEK 6.4734554 6.5987380 Chart CAD/SGD 1.2891515 1.2983462 Chart CAD/THB 29.1916174 30.3177659 Chart AUD/CAD 0.9948684 0.9992404 Chart CHF/CAD 1.0514426 1.0563261 Chart EUR/CAD 1.4052845 1.4122913 Chart GBP/CAD 1.5984825 1.6059119 Chart NZD/CAD 0.7602217 0.7639928 Chart USD/CAD 0.9966624 1.0003387 Chart

U.S. dollar Exchange rate September 14, 2010

U.S. dollar Exchange rate September 14, 2010 Currency Bid Ask Chart USD/CAD 0.9972615 1.0009396 Chart USD/CHF 0.9454978 0.9488033 Chart USD/DKK 5.2471409 5.3146940 Chart USD/HKD 7.7509000 7.7673000 Chart USD/JPY 80.9352129 81.2348862 Chart USD/NOK 5.6630262 5.7564593 Chart USD/SEK 6.4646476 6.5841048 Chart USD/SGD 1.2884315 1.2965708 Chart USD/THB 29.1595067 30.2540472 Chart AUD/USD 0.9968210 1.0002800 Chart EUR/USD 1.4080594 1.4139418 Chart GBP/USD 1.6023241 1.6084772 Chart NZD/USD 0.7613693 0.7645320 Chart

Canadian dollar Touches Parity;Commod Currency Bets-Dealer

Canadian dollar touches parity on continued broad-based USD weakness amid expectations for further quantitative easing by Fed, says Nobuaki Kubo, senior dealer at Brown Brothers Harriman Investment Services. Adding to those expectations, USD also weighed by Monetary Authority of Singapore's surprise decision to tighten its monetary policy, which contrasts sharply with mounting expectations for U.S. Federal Reserve to soon conduct more monetary easing. Adds, broad gains in Asian share markets also prompting investors to increase bets in commodity-linked currencies such as CAD, as gold hits new record high. USD/CAD Canadian dollar last 1.0005.


Canadian dollar October 14, 2010

Canadian dollar October 14, 2010
U.S. dollar/Canadian dollar to consolidate with risks skewed to downside after setting 5-month low of 1.0011 yesterday. Pair undermined by healthier investor risk appetite, negative USD sentiment, firmer commodity & oil prices (Nymex crude settled up $1.34 yesterday at $83.01/bbl). Data focus: 1230 GMT Canada August trade balance. USD/CAD daily chart negative-biased as MACD bearish, while stochastics stay suppressed at oversold, 5- & 15-day moving averages falling. Support at 1.0011 (yesterday''''s low, matching April 29 low); breach would expose downside to 0.9926 (April 21 low), then 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low). Resistance at 1.0116 (hourly chart), then at 1.0183 (Tuesday''''s high); breach would expose upside to 1.0227 (Friday''''s high), then 1.0272 (Oct. 5 high), 1.0313 (Oct. 1 high) and 1.0334 (55-day moving average).



Canadian dollar September 13, 2010

Canadian dollar September 13, 2010
USD/CAD to consolidate with risks skewed lower. Pair undermined by healthier investor risk appetite, negative USD sentiment. But USD/CAD losses tempered by softer oil prices (Nymex crude settled down 54 cents yesterday at $81.67/bbl). Data focus: 1230 GMT Canada August new housing price index. USD/CAD daily chart negative-biased as MACD bearish, stochastics stays suppressed at oversold, suggesting sideways or lower USD/CAD trading near-term. Support at 1.0085 (yesterday''''s low, matching Monday''''s low), then at 1.0070 (Thursday''''s low) and 1.0058 (Oct. 6 low); breach would expose downside to 1.0010 (April 29 low), then 0.9926 (April 21 low), 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low). Resistance at 1.0145 (hourly chart), then at 1.0183 (yesterday''''s high); breach would expose upside to 1.0227 (Friday''''s high), then 1.0272 (Oct. 5 high), 1.0313 (Oct. 1 high) and 1.0332 (55-day moving average).


Canada Fin Min To Release Economic Update 1 PM ET Tuesday

Canadian Finance Minister Jim Flaherty will release the government's annual fall economic update Tuesday afternoon, a government official said Monday.

Flaherty will release the report at 1 p.m. ET in Mississauga, Ontario, where he will be the guest speaker at a lunch hosted by the Mississauga Chinese Business Association.

The fall update typically includes the latest fiscal and economic budgetary revisions.

The government is on track to balance its budget over the 'medium term,' the government source said. Flaherty has repeatedly made similar remarks in the past.

The global economic recovery remains fragile, the source said, adding the economic recovery is still the Canadian government's top priority.


U.S. dollar Canadian dollar October 12, 2010

U.S. dollar Canadian dollar to consolidate with risks skewed higher. Buoyed by softer oil prices (Nymex crude settled down 45 cents yesterday at $82.21/bbl); profit-taking on short-USD positions. But U.S. dollar Canadian dollar USD/CAD gains tempered by expectations of more QE measures from U.S. Fed; CAD-USD yield advantage. USD/CAD daily chart mixed as MACD bearish, 5- & 15-day moving averages falling; but stochastics turned bullish at oversold. Resistance at 1.0150 (yesterday''''s high); breach would expose upside to 1.0227 (Friday''''s high), then 1.0272 (Oct. 5 high), 1.0313 (Oct. 1 high), 1.0346 (Sept. 30 high, near 55-day & 200-day moving averages) and 1.0361 (Sept. 28 high). Support at 1.0084 (yesterday''''s low), then at 1.0070 (Thursday''''s low) and 1.0058 (Wednesday''''s low); breach would reinstate near-term negative bias, exposing downside to 1.0010 (April 29 low), then 0.9926 (April 21 low), 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low).


Dollar Up Slightly, But Focus Remains On US Easing

The dollar rose slightly Monday, with investors still focused on the likelihood of more policy-easing measures from the Federal Reserve that could lessen the U.S. currency's appeal.

With holidays in Japan, Canada and the U.S. keeping trade subdued, the dollar managed a small advance as last week's rallies for the euro and yen lost steam. The lack of any sign of policy coordination among finance ministers at the International Monetary Fund's weekend meetings in Washington weighed on the dollar in early trading, but the greenback recovered ground in New York and the euro reversed a rise above $1.40, The dollar bounced back from a 15-year-low against the yen as investors became worried about more Japanese intervention in markets to counter yen strength.

'There are lots of reasons why the dollar should be fundamentally weaker right now, but they're all known by now,' said Greg Michalowski, chief currency analyst at retail online foreign exchange broker FXDD based in New York.

Late Monday afternoon, the euro was at $1.3877 from $1.3929 late Friday, according to EBS via CQG. The dollar was at Y82.13 from Y82.08, while the euro was at Y113.97 from Y114.33. The U.K. pound was at $1.5873 from $1.5953. The dollar was at CHF0.9647 from CHF0.9637.

The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 77.500 from 77.255.

'For the time being, $1.40 seems to be an insurmountable barrier for the euro-dollar pair,' said Kathy Lien, director of currency research at GFT Forex in New York. 'As more and more [European Central Bank] officials talk currencies, their comments could be tougher.'

On Friday, the head of the Eurogroup of finance ministers, Jean-Claude Juncker, said in Washington that the euro was too strong and didn't reflect the region's economic fundamentals. His remarks had sent the euro to an intraday low.

Barclays Capital foreign exchange analysts revised their immediate outlook on the euro higher Monday, but cautioned that it would scale down to $1.30 within one year.

'The U.S. data has been better' and should continue to improve while the drag of a higher currency will hurt periphery countries' exports in particular, said Raghav Subbarao, currency strategist at Barclays Capital in London.

Investors continue to watch for more possible Japanese intervention on the yen after the Y2 trillion foray into markets on Sept. 15. Japanese authorities had intervened with the dollar trading at Y82.87, but now the greenback is just above Y82.

To see the dollar's performance against the yen, please see:

http://dowjoneswebservices.com/chart/view/4179

'With the IMF meeting over, the possibility of intervention is increasing,' but the window is also likely short, said Hans Redeker, global head of foreign exchange strategy at BNP Paribas in London.

If Japanese officials act, they would likely not want to do so around the Group of 20 finance ministers' and central bankers' meeting Oct. 22 in Seoul, Redeker said. The wisdom of trying to artificially weaken the yen remains debatable, further complicating a guess, he said.

Currencies linked to global growth fueled by a tie to commodity exports failed to ignite Monday, with the Australian dollar reaching no closer to parity in North American hours. The Australian dollar in recent days has touched as high as US$0.9918, its strongest level versus the U.S. dollar since 1983. Late Monday afternoon, the Australian dollar was at US$0.9843 from $0.9850 late Friday, according to CQG.

South Korean leaders, who will host the Group of 20 leaders' summit in Seoul on Nov. 12, on Monday began pushing for progress on currency issues ahead of the meeting. South Korean officials worry that unless there is progress at the summit, other countries will decide the G-20 isn't the right forum for dealing with critical global economic issues.

'Every country taking part must not pursue only their national interest,' said South Korean President Lee Myung-bak, who will chair the summit.

'If this happens, I fear the recovery and sustainable growth of the global economy will be put into question.'

With the ICE Dollar Index strengthening, Deutsche Bank's PowerShares U.S. Dollar Index Bearish exchange-traded fund was down 0.35% from late Friday, while its PowerShares U.S. Dollar Index Bullish was up 0.40%. The two exchange-traded funds are based on Deutsche Bank currency-futures indexes, whose composition mirrors that of the ICE's Dollar Index.


Canadian dollar RMB Exchange rate October 11, 2010

Canadian dollar RMB Exchange rate October 11, 2010
Currency Name Buying Rate Cash Buying Rate Selling Rate Middle Rate Boc Rate Pub Time
CAD 656.82 636.54 662.1   659.81 2010.10.11 17:31:47
CAD 656.98 636.7 662.26   659.81 2010.10.11 17:28:54
CAD 656.79 636.52 662.07   659.81 2010.10.11 17:22:01
CAD 656.76 636.48 662.03   659.81 2010.10.11 17:17:48
CAD 656.74 636.47 662.02   659.81 2010.10.11 17:15:54
CAD 656.65 636.38 661.92   659.81 2010.10.11 17:10:09
CAD 656.61 636.34 661.89   659.81 2010.10.11 16:58:27
CAD 656.42 636.15 661.69   659.81 2010.10.11 16:50:12
CAD 656.94 636.66 662.21   659.81 2010.10.11 16:41:22
CAD 656.13 635.88 661.4   659.81 2010.10.11 16:25:42
CAD 656.45 636.18 661.72   659.81 2010.10.11 16:20:06
CAD 655.95 635.7 661.22   659.81 2010.10.11 16:08:08
CAD 656.44 636.17 661.71   659.81 2010.10.11 16:02:51
CAD 656.48 636.22 661.76   659.81 2010.10.11 15:58:13
CAD 656.69 636.42 661.97   659.81 2010.10.11 15:47:01
CAD 656.84 636.56 662.12   659.81 2010.10.11 15:45:17
CAD 656.83 636.55 662.1   659.81 2010.10.11 15:43:40


Canadian dollar bank October 8, 2010

Canadian dollar bank October 8, 2010

USD/CAD extended the decline and reached 1.0078 1.06 in yesterday. Despite USD/CAD closed above 1.01, breaking 1.05 this technical support, may trigger further downside risk on 1.04 USD/CAD. Ahead today, Canada will announce employment data, market expects the unemployment rate will be held at 1.03 8.1%. 1.02 1.01 Technical. If USD/CAD consistently trades below 1.01, then 1.00 further downside risk towards 0.9930 is on the cards.



Dollar index slightly rebounded from 76.91

Dollar index slightly rebounded from 76.91, but still 84 maintained in downtrend. U.S. will announce Sept. job data 83 in tonight, and market expects 5,000 non-farm payroll was 82 th cut in last month, and posted for the 4 consecutive decline. 81 Also, the unemployment rate may slightly rebound to 9.7% 80 from 9.6%. Weak recovery momentum may trigger Federal 79 Reserve to further ease the monetary policy. 78 77 76 Technical. Dollar index extends the downtrend, and may 9/7 9/14 9/21 9/28 10/5 Source: Bloomberg LP, SCB move toward 74.2 (Nov 2009 low price).

Canadian dollar 8th october exchange rate

Canadian dollar 8th october exchange rate
Currency Bid Ask Chart
CAD/DKK 5.2215750 5.2930539 Chart
CAD/HKD 7.6008947 7.6307805 Chart
CAD/JPY 80.7316918 81.0972567 Chart
CAD/NOK 5.6687189 5.7668338 Chart
CAD/SEK 6.4791456 6.6040253 Chart
CAD/SGD 1.2791693 1.2882632 Chart
CAD/THB 28.7887406 29.8974493 Chart
AUD/CAD 0.9955970 0.9999700 Chart
CHF/CAD 1.0516647 1.0565134 Chart
EUR/CAD 1.4139597 1.4209959 Chart
GBP/CAD 1.6121044 1.6195808 Chart
NZD/CAD 0.7616831 0.7654657 Chart
USD/CAD 1.0164339 1.0201673 Chart




Canadian dollar RMB Exchange rate October 8, 2010

Canadian dollar RMB Exchange rate October 8, 2010
Currency Name Buying Rate Cash Buying Rate Selling Rate Middle Rate Boc Rate Pub Time
CAD 652.71 632.55 657.95 656.07 2010.10.08 09:33:23
CAD 652.86 632.7 658.1 656.07 2010.10.08 09:31:47
CAD 652.82 632.67 658.07 656.07 2010.10.08 09:30:23
CAD 653.44 633.27 658.69 656.07 2010.10.08 09:19:24
CAD 653.25 633.08 658.49 647.8 2010.10.08 09:16:33
CAD 653.68 633.49 658.93 647.8 2010.10.08 09:09:25
CAD 654 633.81 659.25 647.8 2010.10.08 08:43:57
CAD 654.41 634.21 659.67 647.8 2010.10.08 07:27:28
CAD 654.74 634.52 659.99 647.8 2010.10.08 06:54:04
CAD 654.7 634.49 659.96 647.8 2010.10.08 06:45:37
CAD 660.9 640.5 666.21 647.8 2010.10.08 00:00:03


U.S. dollar Exchange rate October 8, 2010

U.S. dollar Exchange rate October 8, 2010
Currency Bid Ask Chart
USD/CAD 1.0168333 1.0205678 Chart
USD/CHF 0.9648732 0.9682280 Chart
USD/DKK 5.3224992 5.3909358 Chart
USD/HKD 7.7471000 7.7635000 Chart
USD/JPY 82.2433577 82.5467415 Chart
USD/NOK 5.7790926 5.8741930 Chart
USD/SEK 6.6057637 6.7273887 Chart
USD/SGD 1.3030897 1.3113125 Chart
USD/THB 29.3270901 30.4264638 Chart
AUD/USD 0.9779471 0.9813539 Chart
EUR/USD 1.3881966 1.3940045 Chart
GBP/USD 1.5832560 1.5893454 Chart
NZD/USD 0.7477895 0.7509119 Chart




Australian dollar Exchange rate October 8, 2010

Australian dollar Exchange rate October 8, 2010 Currency Bid Ask Chart AUD/CAD 0.9958943 1.0002684 Chart AUD/CHF 0.9450842 0.9492615 Chart AUD/DKK 5.2129463 5.2839278 Chart AUD/HKD 7.5861074 7.6144959 Chart AUD/JPY 80.5558110 80.9109161 Chart AUD/NOK 5.6606155 5.7581718 Chart AUD/NZD 1.3045443 1.3109305 Chart AUD/SEK 6.4701313 6.5943533 Chart AUD/SGD 1.2765067 1.2854901 Chart AUD/THB 28.7191607 29.8231467 Chart AUD/USD 0.9782467 0.9816543 Chart EUR/AUD 1.4163991 1.4233462 Chart GBP/AUD 1.6151748 1.6225499 Chart

Canadian dollar Exchange rate October 8, 2010

Canadian dollar Exchange rate October 8, 2010 Currency Bid Ask Chart CAD/DKK 5.2227941 5.2942865 Chart CAD/HKD 7.5999907 7.6298716 Chart CAD/JPY 80.7060446 81.0714893 Chart CAD/NOK 5.6713091 5.7694602 Chart CAD/SEK 6.4823541 6.6072809 Chart CAD/SGD 1.2789182 1.2880101 Chart CAD/THB 28.7734147 29.8816123 Chart AUD/CAD 0.9958943 1.0002684 Chart CHF/CAD 1.0513274 1.0561739 Chart EUR/CAD 1.4136278 1.4206624 Chart GBP/CAD 1.6120145 1.6194905 Chart NZD/CAD 0.7613245 0.7651058 Chart USD/CAD 1.0166336 1.0203676 Chart

Euro Exchange rate October 8, 2010

Euro Exchange rate October 8, 2010 Currency Bid Ask Chart EUR/AUD 1.4162712 1.4232172 Chart EUR/CAD 1.4135160 1.4205503 Chart EUR/CHF 1.3408820 1.3477516 Chart EUR/DKK 7.4024054 7.5010771 Chart EUR/GBP 0.8749421 0.8790486 Chart EUR/HKD 10.7688590 10.8167008 Chart EUR/JPY 114.3395319 114.9159076 Chart EUR/NOK 8.0386810 8.1749091 Chart EUR/NZD 1.8519742 1.8619634 Chart EUR/SEK 9.1873935 9.3611416 Chart EUR/SGD 1.8131191 1.8253617 Chart EUR/THB 40.7919969 42.3480774 Chart EUR/USD 1.3887955 1.3946056 Chart

Swiss Franc Exchange rate October 8, 2010

Swiss Franc Exchange rate October 8, 2010 Currency Bid Ask Chart CHF/CAD 1.0516702 1.0565191 Chart CHF/DKK 5.5050839 5.5812582 Chart CHF/HKD 8.0135071 8.0434482 Chart CHF/JPY 85.0718131 85.4654215 Chart CHF/NOK 5.9782747 6.0826303 Chart CHF/SEK 6.8325591 6.9652595 Chart CHF/SGD 1.3483958 1.3581803 Chart CHF/THB 30.3365399 31.5095488 Chart AUD/CHF 0.9447865 0.9489628 Chart EUR/CHF 1.3408820 1.3477516 Chart GBP/CHF 1.5292120 1.5365284 Chart NZD/CHF 0.7220871 0.7257797 Chart USD/CHF 0.9642739 0.9676272 Chart

RMB China Yuan Official Central Parity Rates For Friday

The China Foreign Exchange Trade System published the following official central parity rates for major currencies against the yuan Friday:


Friday Sept. 30
USD/RMB 6.6830 6.7011
HKD/RMB 0.86165 0.86349
JPY/RMB (per 100 yen) 8.1040 7.9999
EUR/RMB 10.6079 9.1329
GBP/RMB 9.2951 10.6018
RMB/MYR 0.46301 0.46127

China's markets were closed from Oct. 1 to Oct. 7 for the National Day holiday.
The daily central parity rate for the yuan versus the U.S. dollar is the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation.
In each daily trading session, the central bank allows the dollar-yuan rate to move no more than 0.5% above or below the central parity rate and the yuan/ringgit to move as much as 5% above or below the central parity rate. Other currency pairs are allowed to move as much as 3% above or below the central parity rate.


dollar Canadian dollar October 8, 2010

dollar Canadian dollar October 8, 2010
dollar Canadian dollar to consolidate with risks skewed higher before 1100 GMT Canada September labor force survey, 1230 GMT U.S. non-farm payrolls report. Pair underpinned by decreased investor risk appetite, softer commodity & oil prices (Nymex crude settled down $1.56 yesterday at $81.67/bbl), positions adjustment before weekend, IMF & G7 meetings. But dollar Canadian dollar topside limited by expectations of more QE measures from U.S. Federal Reserve. Other data focus: 1215 GMT Canada September housing starts. USD/CAD daily chart mixed as MACD bearish, but stochastics turned bullish at oversold. Resistance at 1.0212 (yesterday''''s high); breach would expose upside to 1.0272 (Tuesday''''s high), then 1.0313 (Oct. 1 high), 1.0346 (Sept. 30 high, near confluence of 55-day & 200-day moving averages) and 1.0361 (Sept. 28 high). Support at 1.0070 (yesterday''''s low), then at 1.0058 (Wednesday''''s low); breach would tilt near-term outlook toward negative, targeting 1.0010 (April 29 low), then 0.9926 (April 21 low), 0.9816 (May 21, 2008 reaction low) and 0.9708 (Feb. 28, 2008 reaction low).


Forex Interventions Contrary To Global Rebalancing Efforts

Currency battles across the globe risk undermining the global economy, International Monetary Fund chief Dominique Straus-Kahn warned Thursday.

The IMF is the appropriate forum to make progress on resolving currency tensions, including getting China to appreciate its undervalued currency, Strauss-Kahn said at the start of annual IMF and World Bank meetings.

He said the the global political mood wasn't right for a Plaza-style accord on currency, a deal reached by the Group of Seven in the 1980s to coordinate the depreciation of the dollar against the Japanese yen and German mark, as suggested by the head of a global banking group earlier this week.

But Strauss-Kahn backed U.S. Treasury Secretary Timothy Geithner's call for a faster pace of yuan appreciation in Beijing to progress on IMF governance reform to strengthen the voice and vote of dynamic emerging economies.

The IMF chief said the IMF needed to launch a 'systemic stability initiative' to build international consensus on global currency policies.

On Wednesday, Geithner essentially accused China of sparking a global currency war--where countries competitively devalue their exchange rates--because of the sluggish pace of moving the yuan to a market-based rate.

Japan, South Korea and Brazil have all pushed their currencies lower in recent weeks.



dollar Canadian dollar October 7, 2010

dollar Canadian dollar October 7, 2010

dollar Canadian dollar  broke below 1.01 in yesterday, and may 1.06 trigger to further downside risk. Gold price breaks another 1.05 record high in this morning, and approaches to $1,350/oz. 1.04 Also, crude oil price in New York extended the rally and traded above $83/barrel. Canada and U.S. will announce job 1.03 data in this Friday, which will be the market spotlight ahead. 1.02 1.01 Technical. If USD/CAD consistently trades below 1.01, then 1.00 further downside risk towards 0.9930 is on the cards.



Dollar Slumps To 15-Year Low Vs Yen; Euro Hits $1.40

The dollar slumped broadly Thursday, even after a better-than-expected reading of U.S. weekly jobless claims, as investors continued the drumbeat proclaiming that another round of Federal Reserve stimulus could be right around the corner.

The dollar fell to a 15-year low against the yen and an all-time low against the Swiss franc. The euro rose above $1.40 for the first time since February, while the ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, fell to its lowest level since January.

The Australian dollar took advantage of broad greenback weakness and a much better-than-expected Australian jobs report, shooting to its highest level since the currency was floated in 1983, more than 1.3% higher against the greenback and above the US$0.99 mark, leading some analysts to point to possible parity.

Thursday morning, the euro was at $1.4001 from $1.3929 late Wednesday, according to EBS via CQG. The common currency rose as high as $1.4030. The dollar was at Y82.30 from Y82.96, after falling as low as Y82.11, while the euro was at Y115.21 from Y115.55. The U.K. pound was at $1.5977 from $1.5885. The dollar was at CHF0.9616 from CHF0.9618.

The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 77.026 from 77.435, trading at a new low since January.

While investors continue to speculate a Fed stimulus program is imminent, the European Central Bank's president, Jean-Claude Trichet, on the other hand articulated a steady-on approach to monetary policy at its Thursday press conference after having earlier left key rates unchanged. This contrast--the ECB on the path to eventual policy normalization, with the Fed possibly near to policy loosening--propelled the euro above $1.40.

The dollar fell to a new all-time low against the Swiss franc, dropping as low as CHF0.9555, while the greenback also declined against the yen, dropping to a fresh 15-year low, at Y82.11, and keeping investors on alert for signs of Japan in the market to prop the dollar and stem yen strength.

Hidetoshi Yanagihara, currency strategist at Mizuho Corporate Bank in New York, said there were no signs of Japan in the market to stem yen strength as of Thursday morning North American trading.

Investors still think Japan's yen-selling intervention is possible, but they said the risk is decreasing for now because a meeting of financial ministers and central bankers from the Group of Seven industrialized nations will be held this weekend. Japanese intervention just before the meeting would raise difficult questions for Japanese authorities in trying to explain that they are not just pushing the yen lower to gain a trade advantage against other nations.

The Bank of England also left its monetary policy unchanged Thursday, though speculation mounted whether the bank's Monetary Policy Committee would eventually enact another round of its own stimulus--asset purchases dubbed quantitative easing--which would likely weigh on the pound. Still, sterling gained more than 0.3% on the dollar, participating in the broadside against the greenback.

Canada Morning

The Canadian dollar was left out of the rally, falling against the greenback while its other growth-linked and commodity cousins were rising.

Investors briefly sold off the Canadian dollar in reaction to the release of far-worse-than-expected Canadian building permits data.

The U.S. dollar rose to C$1.0134 after the data, and then ticked back down to C$1.0110. It was at C$1.0104 late Wednesday, according to CQG.

Canadian building permits fell 9.2% In August from July, far exceeding the 2% drop that the market was expecting. The data took some wind out of the Canadian currency's sails, put there by U.S. dollar weakness and stronger oil prices.

'Canadian dollar is going to be hovering and range-bound waiting for the employment data [Friday] in Canada and the U.S.,' said Dave Bradley, director of foreign exchange at Scotia Capital.


IMF To Push For Global Framework Of Regional Financial Safety Nets

The International Monetary Fund will this week pitch a plan for a global framework of regional financial safety nets so that future crises can be better-managed. Much like its cooperation with the European bailout fund, the IMF is also working to establish a structured arrangement with existing regional financial liquidity facilities around the globe. As part of the IMF's annual summit, officials are hosting a meeting of regional facilities to discuss ways to cooperate and improve crisis prevention. The IMF wants a more concrete safety net infrastructure instead of the existing raft of scattered initiatives in order to help avoid scrambling to craft emergency responses. The Fund acts like the fire station for the global economy, providing rescue loans when countries are ablaze in crisis. But over the years, countries in Asia and Latin America have tried to shun the IMF because of the tough conditions attached to the loans, instead trying to put together regional bailout funds. During the Asian financial crisis of a decade ago, the IMF and the U.S. Treasury killed a similar idea put forward by Asian countries, called the Asian Monetary Fund, because they feared it would compete with the IMF. Since then, though, regional funds have proliferated and the IMF has tried to convince them to collaborate. So far, the discussions haven't gotten very far. The Fund has already begun to develop links to the Chiang Mai initiative, which is a $120 billion Asian currency swap agreement, but wants to expand its network to include other regions, such as the Middle East and Latin America. The IMF is hoping to apply the lessons of the European debt crisis to their network of regional safety nets. Economists say that the delayed response in constructing the European stabilization fund--basically a bailout mechanism with nearly a $1 trillion in available resources, including IMF contributions--exacerbated the damage and spill-over effects across the continent. To avoid the stigma of approaching the IMF for extraordinary assistance--which can trigger another round of negative chain reactions in markets--more than a dozen Asian countries including China, South Korea, Japan and Singapore agreed to a currency swap mechanism earlier this year under the Chiang Mai initiative. Linking the Chiang Mai initiative to the IMF not only increases the oversight of liquidity actions, it also dramatically boosts the funding available in hard times. By collaborating, the IMF can use it's hefty arsenal of resources while leveraging the local knowledge of regional facilities. A global framework of liquidity facilities would develop a system of cooperation where the rules are known in advance, giving more certainty both to governments and markets. Reza Moghadam, head of the IMF's policy and strategy team, says a global safety net is needed to enable countries with good policies to insure against bad outcomes, 'especially when they are innocent bystanders caught up in a financial turmoil,' he wrote in a recent IMF blog. Many Asian countries, despite having sound fiscal strategies, were hit hard by the global crisis in the midst of the credit crunch as international lending to Asia withered. In response to the global crisis, the IMF cobbled together a number of ad hoc measures, including boosting available resources to $800 billion and creating new lines of credit. The flexible credit line, for example, was developed for crisis-mitigation in countries that have strong track records of economic performance but experience temporary difficulties. South Korea, which currently chairs the G-20, has been pushing to improve global financial safety nets as a high priority for the G-20 agenda, an effort drawing support from France and the U.K. The French, among others, view financial safety nets as a way to prevent countries pooling massive currency reserves, avoiding turbulence in exchange rate markets. Some German officials have objected to the potential for safety nets without responsible conditions, concerned about fueling moral hazard.

US Jobless Claims -11K To 445K In Oct. 2 Week

In a good sign for the job market, the number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week to their lowest level since July 10.

Initial unemployment claims dropped by 11,000 to 445,000 in the week ended Oct. 2, the Labor Department said in its weekly report Thursday. New claims for the previous week, ended Sept. 25, were revised upward slightly to 456,000 from 453,000.

Economists polled by Dow Jones Newswires had predicted new claims would rise by 2,000.

The four-week moving average, which aims to smooth volatility in the data, also fell by 3,000 to 455,750 from the prior week's revised average of 458,750.

Although claims fell last week, the number of people filing for jobless benefits and the unemployment rate still remain high amid weak economic growth.

The high jobless rate is curtailing spending--data Monday showed that pending sales of previously owned U.S. homes is slowly stabilizing, but remain well below figures from a year ago.

On Friday the Labor Department will be releasing its monthly jobs report for September. While economists are expecting to see fewer payroll cuts than reported in August, they still anticipate a decrease of 10,000 U.S. jobs and a slight rise in unemployment.

Data reported on Wednesday from payroll giant Automatic Data Processing Inc. (ADP) also looked a bit grim. That survey found that private employers unexpectedly cut 39,000 jobs in September.

Federal Reserve Chairman Ben Bernanke Monday signaled he would support further bond purchases to boost a weak economy, though Fed officials are split on a possible move to ease financial market conditions. In an interview recently with The Wall Street Journal, Chicago Fed President Charles Evans said he supports a new Treasury bond purchase program amid major concerns about the high unemployment rate.

In other news in the Thursday claims report, the number of continuing claims -- those drawn by workers for more than one week in the week ended Sept. 25 -- fell by 48,000 to 4,462,000 from the preceding week's revised level of 4,510,000. Continuing claims are reported with a one-week lag.

The unemployment rate for workers with unemployment insurance for the week ended Sept. 25 was 3.5%, a 0.1 percentage point decrease from the prior week's revised rate of 3.6%.

The report's state-by-state breakdown of new claims for the week ended Sept. 25 shows that the largest decrease in claims took place in New York, which saw a decline of 3,703 claims due to fewer layoffs in the construction and service industries.

California had the largest increase in claims with a rise of 8,960 due to layoffs in the service industry.

A Labor Department economist said Thursday that claims for the Virgin Islands were estimated in this latest report.




ECB: Leaves rates unchanged

ECB: Leaves rates unchanged
-- Min. bid rate at refi tender remains at 1.00%
-- Marginal lending rate 1.75%, Deposit rate 0.25%
-- Focus turns to the ECB press briefing which begins at 1230GMT.



ECB: Leaves rates unchanged

ECB: Leaves rates unchanged
-- Min. bid rate at refi tender remains at 1.00%
-- Marginal lending rate 1.75%, Deposit rate 0.25%
-- Focus turns to the ECB press briefing which begins at 1230GMT



BOJ Fires At Yen, But Will Hit Dollar Instead

The Bank of Japan stole a march on the U.S. Federal Reserve this week, in part because of concern over the strong yen -- but, ironically, the move will likely drag the dollar down further against the Japanese currency.

Japan's central bank surprised markets Tuesday by dropping its policy rate to a 0.00%-0.10% range, from 0.10%, and announcing that it will buy a wide range of assets, including more government bonds.

That has increased speculation that the Fed will take bold measures of its own, making the dollar even more unattractive. Since U.S. Treasury yields have more room to fall than their Japanese counterparts, which already are at ultra-low levels, expectations for a second round of Fed quantitative easing will weigh on the dollar/yen leading up to the U.S. policy-setting meeting Nov. 2-3.

That unintended outcome is unfortunate for Japan, whose export-driven economy is generally hurt by a stronger yen. A day after the BOJ move the dollar fell to a fresh 15-year low at Y82.75, frustrating Tokyo's efforts to revive its economy. The yen has now recouped all of its losses that followed Japan's massive intervention on Sept. 15.

The BOJ's latest move has some analysts talking about 'competitive easing.' The idea is that the BOJ and Fed will try to outdo each other in loosening monetary policy to weaken their own currencies.

The BOJ could certainly ease more, but it only stands to lose in any contest where success is measured by how low the central bank can push yields and the local currency.

A grim jobs market and deflation risk provide the Fed with all the reasons it needs to ease more. And there's no doubt an even weaker dollar would be welcome in Washington, where President Barack Obama earlier this year announced a goal of doubling exports in the next five years.

The BOJ may have thought its rate cut would help Japanese exporters, but in fact it's U.S. exporters who owe the BOJ a round. The day after the BOJ step raised expectations of a corresponding Fed move, the ICE Dollar Index, a key gauge that measures the greenback's performance against a basket of currencies including the yen and the euro, fell to its lowest level since January at 77.301.

The spread between 10-year U.S. and Japanese government bonds, a key driver of the dollar's performance against the yen, is likely to narrow further, to the dollar's detriment.

The benchmark 10-year Treasury yield fell Wednesday to 2.357%, its lowest level since January 2009, but it still has plenty of room to fall. In contrast, the 10-year JGB yield appears to be bottoming out after hitting a seven-year low Wednesday at 0.820%; there's not much further it can drop, after all.

This all suggests the downtrend in dollar-yen will not abate. For the BOJ, it means that the battle to hold down the yen may get much trickier ahead.



FOREX: Dollar Sold Heavily Ahead Of G7 Meeting

The dollar has been hammered Thursday ahead of this weekend's meeting of finance ministers from the Group of Seven leading industrial nations in Washington. Chinese Premier Wen Jiabao has made matters worse for the U.S. currency by making it clear that Beijing has no intention of allowing the yuan to appreciate faster. Wen argued that a stronger yuan would reduce the already narrow margins of many Chinese exporters. The job losses among migrant workers would then risk 'social and economic turbulence' that he said would be a disaster for the world. His comments came as U.S. Treasury Secretary Timothy Geithner called on emerging nations as well as China to show more flexibility in their exchange rates. See the dollar's fall against the yen: www.dowjoneswebservices.com/chart/view/4696 See the euro's rise against the dollar: www.dowjoneswebservices.com/chart/view/4695 The dollar was already under pressure from rising speculation that the U.S. Federal Reserve will increase quantitative easing next month. On Wednesday, the latest set of ADP employment numbers showed a 39,000 fall rather than an anticipated 20,000 rise, raising fears that the employment report for September will also prove disappointing. The Australian dollar was one of the main beneficiaries of the dollar's weakness, rising to its highest level--$0.9920--since the currency was first floated in 1983. The Aussie was helped by strong employment numbers showing a rise of 49,500 jobs last month. The euro also benefited as investors continued to bet that the European Central Bank will retain its recent hawkish stance after its policy meeting Thursday. Unlike most other major central banks, the ECB has suggested that it is keen to start exiting its ultra-easy monetary stance despite continued concerns about euro-zone growth and the health of European banks. The yen also resumed its recent rally as the dollar declined, helped by investors assuming that the Ministry of Finance won't intervene through the Bank of Japan to stop the yen's rise ahead of the meeting of G7 finance ministers attending the International Monetary Fund conference in Washington. The dollar fell well below the level at which the Japanese central bank intervened last month, with Japanese Prime Minister Naoto Kan repeating that the government will take decisive steps to stop volatile moves. The pound also managed to post some gains against the dollar, even though a new survey from Halifax showed house prices falling by 3.6% last month, the largest ever monthly fall since records were started in 1983. This comes ahead of a Bank of England policy announcement Thursday. The bank is widely expected to leave rates unchanged but there is a chance it will decide to extend quantitative easing given the rapid pace of the recent economic slowdown. Reports suggest that the U.K.'s coalition government plans to reschedule its fiscal cuts at a more even pace over the next five years. Some analysts suggest that this is the result of the sharp slowdown. 'Postponing fiscal cuts like welfare benefits could fuel concerns that the downside risks to the official near- and medium-term growth projections have grown of late. This in turn should be less supportive for sterling,' said Valentin Marinov, a currency strategist with Citigroup. By midmorning, the euro was up at $1.3974 from $1.3929 late Wednesday in New York, according to EBS. But the single currency has continued to trade shy of the emotive $1.40 level. The dollar is down at Y82.50 from Y82.96 while the pound has risen to $1.5936 from $1.5885. The U.S. currency is also down at CHF0.9580 from CHF0.9610 after hitting a new record low of CHF0.9555 while the euro has fallen to Y115.33 from Y115.55.

Canadian dollar RMB Exchange rate October 7, 2010

Canadian dollar RMB Exchange rate October 7, 2010
Currency Name Buying Rate Cash Buying Rate Selling Rate Middle Rate Boc Rate Pub Time
CAD 658.81 638.47 664.11 647.8 2010.10.07 08:03:07
CAD 658.91 638.57 664.2 647.8 2010.10.07 07:41:25
CAD 656.02 635.77 661.29 647.8 2010.10.07 00:00:04


U.S. dollar Exchange rate October 7, 2010

U.S. dollar Exchange rate October 7, 2010 Currency Bid Ask Chart USD/CAD 1.0101430 1.0138582 Chart USD/CHF 0.9614775 0.9648236 Chart USD/DKK 5.3225986 5.3910364 Chart USD/HKD 7.7477000 7.7641000 Chart USD/JPY 82.7626212 83.0674779 Chart USD/NOK 5.7247827 5.8191029 Chart USD/SEK 6.6552834 6.7776690 Chart USD/SGD 1.3037878 1.3120145 Chart USD/THB 29.2285116 30.3250423 Chart AUD/USD 0.9807432 0.9841577 Chart EUR/USD 1.3876975 1.3935036 Chart GBP/USD 1.5824573 1.5885440 Chart NZD/USD 0.7495868 0.7527145 Chart

Canadian dollar Exchange rate October 7, 2010

Canadian dollar Exchange rate October 7, 2010 Currency Bid Ask Chart CAD/DKK 5.2565229 5.3285036 Chart CAD/HKD 7.6487856 7.6788971 Chart CAD/JPY 81.7666897 82.1368886 Chart CAD/NOK 5.6530957 5.7510749 Chart CAD/SEK 6.5723963 6.6989443 Chart CAD/SGD 1.2881143 1.2972775 Chart CAD/THB 28.8705172 29.9833645 Chart AUD/CAD 0.9920614 0.9964219 Chart CHF/CAD 1.0486276 1.0534707 Chart EUR/CAD 1.4039968 1.4109908 Chart GBP/CAD 1.6009148 1.6083479 Chart NZD/CAD 0.7583830 0.7621513 Chart USD/CAD 1.0101430 1.0138582 Chart

Subtropical Storm Otto Forms In Atlantic - NHC

A subtropical storm named Otto formed Wednesday in the Atlantic and could strengthen into a hurricane by Thursday or Friday, the U.S. National Hurricane Center said.

A subtropical storm is one that forms with colder temperatures aloft and on the sea surface than normally found in the tropics.

But Otto, which doesn't have an organized center, "could transition into a tropical storm by Thursday and then become a hurricane by Thursday night or Friday morning," the Miami-based hurricane center said.

The storm was 215 miles (345 kilometers) northeast of the Turks and Caicos islands at 2100 GMT and was heading north with maximum winds of 60 miles per hour.

It was expected to remain well east of the Bahamas as it heads toward the north Atlantic.

"Additional heavy rainfall is possible in the northern Leeward Islands, the Virgin Islands, and Puerto Rico during the next day or so," the center said.



Canadian dollar October 6, 2010

Canadian dollar October 6, 2010

USD/CAD Canadian dollar breaks below 1.02 and trends towards USD/CAD 1.01 in this morning. Crude oil price in New York gained 1.06 1.7% to $82.82/barrel, and supported the overall sentiment 1.05 of CAD. Also, Canada and U.S. will announce job data in this Friday, and the unemployment rate in Canada (8.1%) is 1.04 expected to stay lower than U.S. (9.6%). 1.03 Technical. USD/CAD may test the next support at 1.01, and 1.02 may see further downside risk if breaking this support level.



Forex Focus: A Losing Battle For The Bank Of Japan

This is one battle the Bank of Japan will still lose.
  The central bank's attempt to weaken the yen against the dollar this week with more monetary easing may be more politically palatable than direct market intervention and even more cleverly designed to undermine the Japanese currency more over time.
  But, its success is likely to be limited.
  The dollar's weakness is still driven largely by U.S. policy expectations rather than anything else.
  The yen will also still find support from continued strong safe haven flows in its direction as well as from Japan's continued current account surplus.
  Sure, the Bank of Japan's decision to cut its target interest rate to zero and to introduce a Y5 trillion package of temporary asset purchases Tuesday shows its determination to prevent the yen from rising any more, despite the essential failure of last month's massive market intervention on September 15.
  The further monetary easing also suggests that the central bank is now working more in harmony with the Ministry of Finance in the hope that together they can overcome Japan's persistent deflationary pressures.
  A fall in the country's two-year government bond yields to a 5-year low and a decline in 10-year yields to a 7-year low certainly suggested that the central bank's move should help to reduce support for the yen.
  Also, if the central bank decides to intervene against the dollar again, the looser monetary policy should help to increase the chances of at least some success.
  There was talk late Tuesday in New York of Japanese players close to the government, in the market buying dollars but nothing concrete was confirmed.
  However, the Bank of Japan's move has come only weeks before the U.S. Federal Reserve is expected to pursue its own increase in monetary easing.
  Over the last few weeks, as the U.S. recovery has faltered badly, the Fed has made it plain that it is on standby to increase quantitative easing if needed. Fed Chairman Ben Bernanke upped the ante even more with a speech late Monday pointing to the success of the central bank's initial QE exercise and suggesting that more easing could help the economy avoid a double dip recession.
  Of course, the size and extent of the Fed move will have some bearing on just how much the dollar is depressed.
  However, the chance of the yen making a sustained decline against the dollar, and bringing some relief for Japanese exporters, will also depend on safe haven flows.
  In recent months, the yen has remained very much in favor, as concerns over the global economic recovery has encouraged investment flows out of riskier asset markets, including the dollar, and into safe havens, such as the yen.
  See how the dollar has continued decline against the yen since the Sept. 15 intervention:
   http://www.dowjoneswebservices.com/chart/view/4687
  The yen will also continue to find support from Japan's continued strong current account surplus, which ensures underlying support for the Japanese currency regardless of what the Bank of Japan and the Ministry of Finance are cooking up on policy.
   Early Wednesday, the yen was holding very steady against the dollar--with the U.S. currency trading at Y83.15 at 0645 GMT compared with Y83.18 late Tuesday in New York.
  The dollar was still under pressure elsewhere from expectations of further quantitative easing by the Fed next month.
  The euro rose to $1.3853 from $1.3835 and to Y115.23 from Y115.11.
  Bloomberg TNI FRX POV
   Reuters   USD/DJ
   Thomson   P/1066 or P/1074


U.S. dollar Exchange rate October 6, 2010

U.S. dollar Exchange rate October 6, 2010 Currency Bid Ask Chart USD/CAD 1.0136379 1.0173632 Chart USD/CHF 0.9637746 0.9671266 Chart USD/DKK 5.3474529 5.4161821 Chart USD/HKD 7.7473000 7.7637000 Chart USD/JPY 83.0122671 83.3178320 Chart USD/NOK 5.7625117 5.8573739 Chart USD/SEK 6.6370236 6.7591288 Chart USD/SGD 1.3055826 1.3138196 Chart USD/THB 29.3665214 30.4670324 Chart AUD/USD 0.9685601 0.9719409 Chart EUR/USD 1.3811099 1.3868912 Chart GBP/USD 1.5881478 1.5942535 Chart NZD/USD 0.7449936 0.7481077 Chart