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Good Morning,
The Canadian dollar is on the rebound this morning with mid-market rates pushing below 1.02 for the first time in six weeks. Canadian Wholesale Sales numbers came out more positive than expected posting a gain of +1.5% over last month’s +0.3%. US Building Permit numbers were as expected at 0.78M new annual permits up from last month’s 0.72M. The release did not have a major significance on the USD/CAD but is often viewed as an indicator for future growth prospects. Equity markets are up this morning after yesterday’s sell-off. The outlook for Greece is more stable now with the New Democracy party winning with 29.5% of the votes, promising that they will agree to the Eurozone’s bailout condition. Markets now turns towards Spain whose issues are next up in the Eurozone crisis.
Expected Range: 1.0140 - 1.0290 Since 1982, Calforex has provided foreign currency services and market updates to thousands of clients across Canada. With over 29 years of experience our traders provide the most up-to-date market information to help you make informed decisions with your foreign exchange transactions. We encourage you to call us on your next trade and let us show you why Calforex is the most competitive and trusted provider in Canada. Call Toll Free or visit us at www.calforex.com for more information or a live quote: 1-800-769-2025 Central Bank Rates
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