Canadian Dollar USD/CAD FX Morning Update August 15, 2013
USD/CAD Open: 1.0328-1.0330 Overnight Range: 1.0305-1.0342
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $107.42 and gold is at $1,324. NY futures are negative today. Today, the US releases weekly jobless claims, industrial production, and Philly Fed 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 futures are sharply lower after poor earnings results from Walmart and Cisco. Oil prices are climbing higher after tensions in Egypt escalate. Data releases today could cause some volatility. The USD/CAD remains 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 | August 15, 2013 | Daily Update | 0 comments