Canadian Dollar Foreign Exchange Update December 19, 2017
USD/CAD Open: 1.2893-1.2894 Overnight Range: 1.2850-1.2899
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.59 and gold is at $1,265. US futures are mixed. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2909. Support is at 1.2649.
The Canadian dollar continues to trade lightly in quiet holiday trade. The domestic calendar is quiet for the early part of the week, with several releases coming at the end of the week. Major commodity markets are flat. Rate expectations have been steady following last week’s speech from BoC Governor Poloz. We expect CAD to continue to trade quietly in the absence of domestic data.
Today’s Suggested Range USD/CAD: 1.2850 – 1.2950
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 | December 19, 2017 | Daily Update |
0 comments