Canadian Dollar Update January 28, 2019
USD/CAD Open: 1.3269-1.3270 Overnight Range: 1.3202-1.3271
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $52.54 and gold is at $1,305. 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 1.3305. Support is at 1.3208.
The Canadian dollar has consolidated Friday’s rally to begin what is likely to be a busy week. Key events that market participants will be looking towards include tomorrow’s Brexit vote, Wednesday’s FOMC rate decision, Thursday’s Canadian GDP data, and Friday’s employment data. Talks between the US and China are ostensibly progressing towards a solution; an agreement would be a boon to CAD. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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 28, 2019 | Daily Update |
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