Canadian Dollar USD/CAD FX Morning Update September 10, 2013
USD/CAD Open: 1.0357-1.0359 Overnight Range: 1.0356-1.0383
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $106.68 and gold is at $1,364. NY futures are positive today. Today, there are no major data releases.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0580 and 1.0850. Support is at 1.0250 and 1.0150.
US futures are higher and oil is lower on the theme that a strike in Syria by the US can be averted. Chinese data overnight was also better than expected (industrial production and retail sales). The Canadian dollar is stronger on the overall risk on theme as equities are higher and global tension are reduced.
Today’s Suggested Range USD/CAD: 1.0320 – 1.0420
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 10, 2013 | Daily Update |
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