Canadian Dollar FX Morning Update May 14, 2013
USD/CAD Open: 1.0127-1.0129 Overnight Range: 1.0090-1.0129
The Canadian dollar was rangebound in overnight trading. Oil is at $94.86 and gold is at $1,423. NY futures are mixed. Today, there are no major data releases.
The short term Canadian dollar technicals are bullish. For today, USD resistance is at 1.0225, 1.0350 and 1.0450. Support is at 1.0010, and 0.9950.
Overnight, worse than expected German data has markets in a risk off tone. With no major data releases today, the Canadian dollar should largely follow headlines and equities directionally.
Today’s Suggested Range USD/CAD: 1.0050 – 1.0150
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
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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.
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By Admin | May 14, 2013 | Daily Update | 0 comments