Canadian Dollar USD/CAD FX Morning Update August 12, 2013
USD/CAD Open: 1.0303-1.0305 Overnight Range: 1.0280-1.0320
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $105.56 and gold is at $1,329. NY futures are lower today. Today, there are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0430, 1.0580 and 1.0850. Support is at 1.0250, 1.0150, and 1.0010.
Japan reported weaker than expected growth overnight, which is generally US dollar positive. With limited data releases and light trading volume expected, look for the Canadian dollar to consolidate and trade rangebound.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
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
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.
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By Admin | August 12, 2013 | Daily Update | 0 comments