Loonieviews August 29, 2013


USDCAD Open 1.0500-05 Overnight Range 1.0485-1.0505

see original post and more on Saxo Banks’ Trading Floor

The USDCAD is barely off the lows with geopolitical sentiment slightly more positive on Syrian developments even though the US and UN won’t forgive Assad’s perdify. It would be rude for the US to shoot missiles into Syria while the UN inspectors are still in country.

Today’s US GDP and Jobless claims data should underpin the US dollar if they come in as expected and give it a boost on a better than expected result.

The short term USDCAD technicals are bullish above 1.0440 targeting 1.0610. Intraday, they technicals are bullish above 1.0470, for a return to 1.0530

Today’s Range 1.0480-1.0530

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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