FX Morning Update June 27, 2013
USD/CAD Open: 1.0464-1.0465 Overnight Range: 1.0423-1.0477
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $95.84 and gold is at $1,232. NY futures are higher today. Today, the US releases weekly jobless claims.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0599 and 1.0850. Support is at 1.0340, 1.0299, 1.0150, and 1.0010.
US weekly jobless claims released this morning came in close to expectations. Month and quarter end is approaching and the USD/CAD seems to be consolidating. Tapering expectations continue to be followed closely, with delays in tapering seeming to benefit the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.0420 – 1.0520
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 27, 2013 | Daily Update |
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