Canadian Dollar USD/CAD FX Morning Update June 26, 2013
USD/CAD Open: 1.0484-1.0486 Overnight Range: 1.0462-1.0509
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $95.08 and gold is at $1,247. NY futures are higher today. Today, the US releases GDP 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.
US Q1 GDP data released this morning was worse than expected at 1.8% growth vs. expectations of 2.4%. Commodity currencies are doing better overnight as Asian liquidity worries fade. The Canadian dollar seems to be following global sentiment and headlines.
Today’s Suggested Range USD/CAD: 1.0420 – 1.0520
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 26, 2013 | Daily Update |
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