Canadian Dollar Morning Update June 2, 2017
FX Morning Update June 2, 2017
USD/CAD Open: 1.3538 – 1.3539 Overnight Range: 1.3493 – 1.3547
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $47.24 and gold is at $1.277.20. US futures are higher. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral-bullish. For today, USD resistance is at 1.3520. Support is at 1.3450.
US jobs data released this morning was slightly below expectations with 138k jobs added. The US unemployment rate is down to 4.3% and is the lowest level since 2001. The weaker data is not likely to sway course for the US Fed with their rate hikes this year. Oil continues to be facing some weakness. USD/CAD remains similar to where it was yesterday.
Today’s Suggested Range USD/CAD: 1.3460 – 1.3560
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 | June 2, 2017 | Daily Update |
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