USD/CAD FX Morning Update October 22, 2013
USD/CAD Open: 1.0292-1.0295 Overnight Range: 1.0290-1.0311
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $99.18 and gold is at $1,329. NY futures are higher today. Today, US jobs data is released.
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.
September US jobs data was worse than expected with 148k jobs created vs. expectations of 185k. The data would not reflect anything from the government shutdown or how businesses may change hiring practices due to the shutdown. USD/CAD remains rangebound for the most part near 1.0300 seeming pretty content at this level.
Today’s Suggested Range USD/CAD: 1.0255 – 1.0355
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 22, 2013 | Daily Update |
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