Canadian Dollar USD/CAD FX Morning Update July 15, 2013
USD/CAD Open: 1.0425-1.0427 Overnight Range: 1.0381-1.0427
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $105.08 and gold is at $1,281. NY futures are higher today. Today, the US releases retail sales data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0599 and 1.0850. Support is at 1.0340, 1.0299, 1.0150, and 1.0010.
Chinese GDP numbers were in line with broad estimates overnight. The focus today will be on earnings reports and retail sales data as a gauge to see how the economy is doing and the potential impact on stimulus and interest rate policy.
Today’s Suggested Range USD/CAD: 1.0350 – 1.0450
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | July 15, 2013 | Daily Update | 0 comments