Canadian Dollar USD/CAD FX Morning Update July 4, 2013
USD/CAD Open: 1.0530-1.0533 Overnight Range: 1.0497-1.0533
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $100.82 and gold is at $1,247. NY futures are closed today.
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.
US markets are closed today for the 4th of July holiday. Trading in the USD/CAD should be subdued and choppy for the most part. Issues in Egypt and Portugal continue to gain headlines. Payroll data tomorrow could move markets as it could impact tapering timing and growth expectations.
Today’s Suggested Range USD/CAD: 1.0475 – 1.0575
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | July 4, 2013 | Daily Update |
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