Canadian Dollar FX Update February 27, 2019
USD/CAD Open: 1.3139-1.3140 Overnight Range: 1.3117-1.3177
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $56.70 and gold is at $1,326. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3190. Support is at 1.3073.
The Canadian dollar is higher this morning. In his testimony in front of Congress, Fed Chair Powell reiterated his stance of caution in the short-term. Once again citing international trade related risks and a slowing global economy, he believes that the Fed is under no pressure to act in the short-term. The USD is broadly lower. CPI data this morning was in line with expectations, and there are no additional releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
Sincerely,
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
www.knightsbridgefx.com
Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
Click Here to Subscribe
By Admin | February 27, 2019 | Daily Update |
0 comments