Loonieviews September 24, 2013


LOONIEVIEWS

USDCAD Open 1.0287-92 Overnight Range 1.0279-92

Original post on Saxo Banks Trading Floor

The USDCAD was pretty much parked in another "ignore the loonie" session. The AUDUSD came under modest pressure while USDJPY rejected strength above 99.00 and the EUUSD flatlined. Canadian Retail sales data, US consumer Confidence and Fed speakers are all on tap. The retail sales data is expected to offset last month’s negative print which could provide the loonie with some support , especially if US consumer confidence disappoints. Wti oil is $103.79 and gold is $1,317.90

The short term USDCAD technicals are bearish. while trading below 1.0305 with a break of 1.0270 extending losses to 1.0240. A move above 1.0305 targets 1.0350

Today’s Range 1.0270-1.0320

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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