FX Morning Update April 24, 2013

USD/CAD Open: 1.0258-1.0260 Overnight Range: 1.0255-1.0270

The Canadian dollar was rangebound in overnight trading. Oil is at $89.46 and gold is at $1,430. NY futures are mixed. Today, the US releases durable goods data.

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

Durable goods data released today was worse than expected today. Recent data releases have been softer than expected causing mixed reactions in the market for risk appetite. The Canadian dollar continues to remain rangebound for the most part seeking direction.

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

Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | April 24, 2013 | Daily Update | 0 comments
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