Canadian Dollar USD/CAD FX Morning Update August 14, 2013
USD/CAD Open: 1.0339-1.0341 Overnight Range: 1.0333-1.0369
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $106.32 and gold is at $1,322. NY futures are negative today. Today, the US releases wholesale prices.
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.
Wholesale price data released today shows inflation was largely contained in the US. The focus today will be on a FED speaker engagement and any potential comments on tapering. The USD/CAD has been grinding higher but remains rangebound for the most part within similar trading ranges.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 14, 2013 | Daily Update |
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