Canadian Dollar FX Morning Update June 10, 2013
USD/CAD Open: 1.0198-1.0200 Overnight Range: 1.0175-1.0229
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $95.37 and gold is at $1,382. NY futures are positive today. Today, Canada releases housing starts data today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0275, 1.0450, and 1.0599. Support is at 1.0150, and 1.0010.
Chinese data came in weaker than expected overnight but Japanese markets were up boosting sentiment. Canada’s job report on Friday really helped the Canadian dollar soar and reverse a portion of its May losses. US bond yields continue to rise suggesting the Fed could soon move away from quantitative easing.
Today’s Suggested Range USD/CAD: 1.0125 – 1.0225
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 10, 2013 | Daily Update |
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