FX Morning Update April 19, 2013
USD/CAD Open: 1.0238-1.0240 Overnight Range: 1.0232-1.0259
The Canadian dollar was rangebound in overnight trading. Oil is at $87.78 and gold is at $1,404. NY futures are higher. Today, Canadian CPI is 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.
Canadian CPI was in line generally with expectations. Earnings releases remain mixed. USD/CAD continues to remain rangebound and look for direction. The focus will be on G20 meetings and corporate earnings.
Today’s Suggested Range USD/CAD: 1.0200 – 1.0300
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | April 19, 2013 | Daily Update |
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