Loonieviews December 13, 2013


USDCAD Open 1.0655-60 Overnight Range 1.0628-67

Original post on Saxo Bank’s Trading Floor

The US dollar was bid against the majors in the overnight session in part due to thoughts of an early taper. AUDUSD is testing the recent lows while USDJPY probed the recent top. Next week’s FOMC meeting concerns will guide trading today. Global Equity indices are all higher as are NY equity index futures. Gold is $1,227.42 and WTI oil is $97.17/bbl

The intraday USDCAD technicals are bullish while trading above 1.0645 but needing a break of 1.0665 to extend gains to 1.0707. Below 1.0645 points to a return to 1.0620 and possibly 1.0600

Today’s Range 1.0620-1.0680

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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