Canadian Dollar FX Morning Update October 3, 2013
USD/CAD Open: 1.0333-1.0335 Overnight Range: 1.0317-1.0345
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.01 and gold is at $1,307. NY futures are mixed today. Today, the US releases jobless claims data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0360, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
Jobless claims released this morning were close to expectations. Another day of US government shutdown continues. The US is soon to hit the US debt ceiling which could create further volatility and impact the US credit rating. Bernanke looks like a hero for delaying tapering. The USD/CAD remains rangebound for the most part despite all this noise.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 3, 2013 | Daily Update |
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