Canadian Dollar USD/CAD FX Morning Update June 25, 2013
USD/CAD Open: 1.0476-1.0478 Overnight Range: 1.0460-1.0517
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $95.99 and gold is at $1,281. NY futures are higher today. Today, the US releases durable goods 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.
Durable goods order data released this morning was better than expected and US futures extended their gains. Liquidity concerns in China and FED quantitative easing tapering remain the key focus points for the USD/CAD. The Canadian dollar continues to react to changes in the US dollar and volatile markets typically bode well for the US dollar.
Today’s Suggested Range USD/CAD: 1.0450 – 1.0550
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 25, 2013 | Daily Update |
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