Canadian Dollar FX Morning Update May 9, 2013
USD/CAD Open: 1.0022-1.0024 Overnight Range: 1.0015-1.0037
The Canadian dollar was rangebound in overnight trading. Oil is at $96.10 and gold is at $1,464. NY futures are lower. Today, the US releases weekly jobless claims.
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.
US weekly jobless claims came in better than expected with 323,000 claims vs. 335,000 claims expected. Overnight, Chinese inflation was stronger than expected. Equity markets are taking a step back after a number of days of strong gains. The loonie is flirting with parity.
Today’s Suggested Range USD/CAD: 1.0000 – 1.0100
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
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.
Stop overpaying with
your bank on foreign exchange
We are built to beat bank exchange rates and save you money
By Admin | May 9, 2013 | Daily Update | 0 comments