Canadian Dollar USD/CAD FX Morning Update November 11, 2013
USD/CAD Open: 1.0471-1.0473 Overnight Range: 1.0466-1.0486
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $94.25 and gold is at $1,283. NY futures are mixed today. Today, there are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0480, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
Strong employment numbers on Friday in the US have many wondering how that impacts tapering timing. Today should be quiet due to the Veterans Day holiday. The USD/CAD should consolidate for the most part.
Today’s Suggested Range USD/CAD: 1.0400 – 1.0500
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 11, 2013 | Daily Update |
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