FX Morning Update April 18, 2013

USD/CAD Open: 1.0238-1.0240 Overnight Range: 1.0238-1.0278

The Canadian dollar was rangebound in overnight trading. Oil is at $87.28 and gold is at $1,388. NY futures are higher. Today, US weekly jobless claims, Philly Fed, and Leading Indicator data are released.

The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0265, 1.0350 and 1.0450. Support is at 1.0150, 1.0050, and 1.0010.

US weekly jobless claims data was largely in line with broad expectations. Poor Q1 earnings have been released thus far impacting equities. Markets continue to worry about a slowdown in global growth.

Today’s Suggested Range USD/CAD: 1.0200 – 1.0300

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

To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. 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 | April 18, 2013 | Daily Update | 0 comments
Popular Content