FX Morning Update October 21, 2013 – Canadian Dollar USD/CAD Open: 1.0292-1.0295
USD/CAD Open: 1.0292-1.0295 Overnight Range: 1.0291-1.0303
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $100.15 and gold is at $1,318. NY futures are higher today. Today, there are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0380, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
Corporate earnings remain the focus today. Economic data that was not released during the government shutdown is to be released this week. The Canadian dollar will likely seek direction from economic data releases and overall market sentiment. Look for the Canadian dollar to outperform if Canadian data can outperform US data.
Today’s Suggested Range USD/CAD: 1.0255 – 1.0355
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 21, 2013 | Daily Update |
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