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
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By Admin | April 18, 2013 | Daily Update | 0 comments
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