Canadian Dollar Morning Update April 10, 2014
USD/CAD Open: 1.0915-1.0917 Overnight Range: 1.0870-1.0920
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $102.64 and gold is at $1,304. US futures are negative. Today, US weekly jobless claims are released.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
Weak Chinese export data released overnight has created a risk-off environment. However, US weekly jobless claims data was better than expected this morning. FED minutes released yesterday gave the Canadian dollar a slight boost. The Canadian dollar is lower today on the weak Chinese export data news. Look for the USD/CAD to be ranggebound until the next BOC data release.
Today’s Suggested Range USD/CAD: 1.0900 – 1.1025
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
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 10, 2014 | Daily Update | 0 comments