Canadian Dollar USD/CAD FX Morning Update November 20, 2013
USD/CAD Open: 1.0459-1.0461 Overnight Range: 1.0453-1.0474
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.60 and gold is at $1,262. NY futures are higher today. Today, the US releases retail sales, housing data, and inflation data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0580 and 1.0850. Support is at 1.0270, 1.0150, and 1.0010.
Minutes from the FED are released today, which could provide some more information on FED tapering timing. The USD/CAD continues to be rangebound for the most part seeming content of its recent ranges. Soft data releases in the US could be beneficial for the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.0400 – 1.0500
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | November 20, 2013 | Daily Update |
0 comments