Canadian Dollar FX Morning Update April 30, 2013
USD/CAD Open: 1.0113-1.0115 Overnight Range: 1.0105-1.0123
The Canadian dollar was rangebound in overnight trading. Oil is at $93.79 and gold is at $1,470. NY futures are flat. Today, US home price, Chicago PMI, and consumer confidence data is released.
The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0350 and 1.0450. Support is at 1.0100, 1.0050, and 1.0010.
The FOMC meets today and tomorrow and many expect the stimulative bond buying program to continue. Lots of US data along with corporate earnings should keep the markets focused on data for direction. The Canadian dollar continues to gain some strength slightly as long as the risk on environment continues.
Today’s Suggested Range USD/CAD: 1.0050 – 1.0150
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | April 30, 2013 | Daily Update |
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