Canadian Dollar USD/CAD FX Morning Update October 10, 2013
USD/CAD Open: 1.0386-1.0389 Overnight Range: 1.0385-1.0418
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $101.36 and gold is at $1,299. NY futures are higher today. Today, US weekly jobless claims are released.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0380, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
US futures are higher on optimism that talks could warm up on the budget and debt ceiling. With both sides having entrenched positions, a deal will also need to save face for both parties, which could make things difficult. The focus for the USD/CAD remains the debt ceiling with corporate earnings.
Today’s Suggested Range USD/CAD: 1.0325 – 1.0425
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 10, 2013 | Daily Update |
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