Canadian Dollar Update January 4, 2019
USD/CAD Open: 1.3433-1.3434 Overnight Range: 1.3424-1.3499
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $48.13 and gold is at $1,288. US markets are higher. Today both Canada and the US release employment data.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3513. Support is at 1.3366.
The Canadian dollar is strong early in today’s session, extending gains made earlier in the week. Canadian employment data for December was better than expected, as Canada added 9,300 jobs, against expectations of an increase of 5,500. The unemployment rate remains at a 43-year low of 5.6%. The US added significantly more jobs than expected, adding 312,000 jobs against expectations of a 182,000 increase. There are no additional domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3400 – 1.3500
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 | January 4, 2019 | Daily Update |
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