Canadian Dollar USD/CAD FX Morning Update October 9, 2013
USD/CAD Open: 1.0377-1.0379 Overnight Range: 1.0352-1.0387
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $102.45 and gold is at $1,309. NY futures are higher today. Today, US FED minutes 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.
Janet Yellen is expected to be the FED chief and will replace Bernanke. Many consider her in favor of stimulus and delaying tapering. Earnings season is kicking off and the market will play close attention to this. The government shutdown continues with no progress in sight. The US dollar is gaining some strength as the government shutdown continues.
Today’s Suggested Range USD/CAD: 1.0300 – 1.0400
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | October 9, 2013 | Daily Update |
0 comments