Canadian Dollar USD/CAD Update July 10, 2014
USD/CAD Open: 1.0669-1.0671 Overnight Range: 1.0646-1.0679
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $101.91 and gold is at $1,342. US futures are lower. Today, US weekly jobless claims data is released.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0850 and 1.0990. Support is at 1.0620 and 1.0510.
US weekly jobless claims data released this morning were better than expected. FOMC minutes released yesterday provided no major new headlines. Portuguese debt problems have crept back in to headlines as a bank has delayed payments on short term debt. The Canadian dollar has held on to recent gains but further eurozone banking problems could cause a shift in risk appetite.
Today’s Suggested Range USD/CAD: 1.0600 – 1.0700
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | July 10, 2014 | Daily Update |
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