Canadian Dollar USD/CAD FX Morning Update August 8, 2013
USD/CAD Open: 1.0409-1.0411 Overnight Range: 1.0398-1.0430
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $103.37 and gold is at $1,291. NY futures are higher today. Today, the US releases weekly jobless claims 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.
Overnight, Chinese trade data was better than expected. US weekly jobless claims data came in as expected today remaining near a five year low. The USD/CAD seems to be consolidating for the most part, looking for direction.
Today’s Suggested Range USD/CAD: 1.0350 – 1.0450
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 8, 2013 | Daily Update | 0 comments