Canadian Dollar USD/CAD FX Morning Update August 13, 2013
USD/CAD Open: 1.0322-1.0325 Overnight Range: 1.0304-1.0331
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $105.96 and gold is at $1,329. NY futures are flat today. Today, the US releases retail sales data.
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.
US retail sales released this morning rose in July but slightly less than expected. The US dollar is slightly higher overnight but the USD/CAD remains rangebound of late between 1.0250 and 1.0450 and the Canadian dollar seems content to be between recent ranges, looking for a catalyst.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 13, 2013 | Daily Update |
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