USD/CAD Canadian Dollar FX Morning Update December 23, 2013
USD/CAD Open: 1.0601-1.0603 Overnight Range: 1.0589-1.06537
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $98.39 and gold is at $1,198. US futures are higher today. Today, the US releases consumer spending and income data along with Univ. of Mich. Consumer sentiment data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0671 and 1.0850. Support is at 1.0530 and 1.0270.
US markets are at record levels and continue to climb higher. The Canadian dollar has gained over the last few days on some potential USD profit selling. Markets will be entering lower volume and holiday range trading.
Today’s Suggested Range USD/CAD: 1.0575 – 1.0675
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | December 23, 2013 | Daily Update |
0 comments