USD/CAD Canadian Dollar and US Dollar FX Morning Update May 16, 2013
USD/CAD Open: 1.0207-1.0209 Overnight Range: 1.0152-1.0210
The Canadian dollar was rangebound in overnight trading. Oil is at $94.34 and gold is at $1,378. NY futures are mixed. Today, US weekly jobless claims and consumer price data are released.
The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0225, 1.0350 and 1.0450. Support is at 1.0010, and 0.9950.
US consumer prices fell more than expected and US weekly jobless claims were worse than expected at a 6 week high. The US labor market continues to see-saw and after the data release today, US futures declined. The US market would need to create jobs much quicker to get the unemployment rate lower, which is on the of FED goals.
Today’s Suggested Range USD/CAD: 1.0150 – 1.0250
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | May 16, 2013 | Daily Update |
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