Canadian Dollar USD/CAD FX Morning Update June 17, 2013
USD/CAD Open: 1.0162-1.0164 Overnight Range: 1.0151-1.0180
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $98.17 and gold is at $1,382. NY futures are mixed today. Today, the US releases Empire State Data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0275, 1.0450, and 1.0599. Support is at 1.0150, and 1.0010.
Limited data releases today have most focusing on the FED interest rate announcement on Wednesday and how quantitative easing will be tapered in the future. Commodity currencies such as the Canadian dollar have been doing well recently. Oil prices remain strong. Look for the Canadian dollar to continue to react to interest rate expectations and FED announcements.
Today’s Suggested Range USD/CAD: 1.0125 – 1.0225
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 17, 2013 | Daily Update |
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