Canadian Dollar USD/CAD FX Morning Update October 15, 2013
USD/CAD Open: 1.0359-1.0361 Overnight Range: 1.0339-1.0364
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $101.55 and gold is at $1,262. NY futures are flat today. There are no major data releases today.
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.
There is optimism in the air that a deal can be reached to lift the debt ceiling. This should be positive for global markets and the Canadian dollar. Corporate earnings continue to be released and will be watched closely to provide some direction. The Canadian dollar remains rangebound for the most part looking for direction.
Today’s Suggested Range USD/CAD: 1.0325 – 1.0425
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 15, 2013 | Daily Update |
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