Canadian Dollar FX Morning Update April 25, 2013
USD/CAD Open: 1.0230-1.0232 Overnight Range: 1.0224-1.0259
The Canadian dollar was rangebound in overnight trading. Oil is at $91.75 and gold is at $1,450. NY futures are higher. Today, weekly jobless claims data are released.
The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0350 and 1.0450. Support is at 1.0150, 1.0050, and 1.0010.
Oil and gold are both higher. The Canadian dollar has increased slightly overnight vs. the US dollar. The Canadian dollar continues to trade rangebound in narrow ranges vs. the US dollar looking for direction. With no major data releases today, look for the Canadian dollar to follow risk appetite.
Today’s Suggested Range USD/CAD: 1.0200 – 1.0300
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
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. 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 | April 25, 2013 | Daily Update |
0 comments