December 28, 2012
USD/CAD 0.9946-51 Overnight Range: 0.9940-0.9956
The Canadian dollar barely budged overnight. Yearend holidays and fiscal cliff brinkmanship provided enough incentive for the poor mopes at work ignore the markets and concentrate on lunch. In addition lousy weather in the US and Canada encouraged workers to stay home. Montreal is digging out from over 2 feet of snow and doing so without calling in the Canadian army. Asian equity indices rose while European equity indices and NY equity futures indexes were all down slightly. WTI oil is $91.09 and gold is $1,661.09
The current USD/CAD trading band of 0.9910-60 remains intact. A break to the top will find resistance at both 0.9980 and 1.0010. A move through 0.9910 will find support at 0.9880.
And in other news, an unlucky car thief was shot multiple times by Durham Police when he attempted to steal a hearse from a funeral home. Initially, EMT workers were elated to find a body already in a hearse right outside a funeral home, saving everyone involved hours and hours of time. Unfortunately, the thief lived.
Today’s Range 0.9910-60
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Vice President, FX Trading