Canadian Dollar Currency Exchange Update June 18, 2014
USD/CAD Open: 1.0865-1.0868 Overnight Range: 1.0858-1.0874
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $106.60 and gold is at $1,272. US futures are mixed. Today, the FED releases a FOMC policy update today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0800 and 1.0610.
The Canadian dollar is rangebound for the most part and has not moved significantly in any direction. All eyes are on the FED statement and policy update on interest rates and timing. Geopolitical risks linger in the background. There was no reaction to the Gov’t conditionally approving the Northern Gateway pipeline. Look for the Canadian dollar to be in a tight range for the most part until the FED announcement.
Today’s Suggested Range USD/CAD: 1.0830 – 1.0930
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | June 18, 2014 | Daily Update |
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