Canadian Dollar USD/CAD FX Morning Update September 12, 2013
USD/CAD Open: 1.0319-1.0322 Overnight Range: 1.0309-1.0332
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $108.60 and gold is at $1,331. NY futures are mixed today. Today, the US release weekly jobless claims.
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 weekly jobless claims were reported better than expected but computer related glitches could have assisted with this plunge. Eurozone industrial production data released overnight was soft. The Canadian dollar has gained some momentum over the last week, but much of this was due to a strike aversion in Syria. Look for rangebound trading until further data releases drive markets.
Today’s Suggested Range USD/CAD: 1.0290 – 1.0390
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 12, 2013 | Daily Update |
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