Canadian Dollar FX Morning Update October 4, 2013
USD/CAD Open: 1.0331-1.0333 Overnight Range: 1.0322-1.0340
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $103.68 and gold is at $1,317. NY futures are higher today.
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.
Jobs data which was to be released today by the US will not be released due to the government shutdown. The main issues continue to be the upcoming debt ceiling limit and the current government shutdown. It seems that the longer these issues continue, the more likely it is for the FED to delay tapering past October. The Canadian dollar continues to be rangebound for the most part looking for direction.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 4, 2013 | Daily Update |
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