Canadian Dollar Update December 11, 2018
USD/CAD Open: 1.3384-1.3385 Overnight Range: 1.3378-1.3422
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $51.81 and gold is at $1,252. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3411. Support is at 1.3366.
The Canadian dollar is little changed early in today’s session. Equities have been volatile and prone to headline related risk. Risk appetite is increasing, with stocks set to open higher today. Oil prices are higher this morning. The Alberta government’s decision to force oil companies to reduce their production has been positive for domestic oil prices. The spread between WTI and WCS has narrowed considerably following the announcement on December 2. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3350 – 1.3450
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.
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By Admin | December 11, 2018 | Daily Update |
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