Canadian Dollar Currency Exchange FX Morning Update August 22, 2014
USD/CAD Open: 1.0946-1.0948 Overnight Range: 1.0926-1.0983
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.26 and gold is at $1,279. US futures are negative. Today, US FED Chairwoman Yellen speaks and Canada releases CPI data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
Chairwomen Yellen speaks today and her comments on the labor market and economy will be watched closely. Canadian CPI data was slightly below expectations this morning and the Canadian dollar is largely unchanged. Without strong inflation data, the Bank of Canada has more time and less pressure to move on interest rates. USD/CAD remains rangebound for the most part.
Today’s Suggested Range USD/CAD: 1.0875 – 1.0975
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. 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.
By Admin | August 22, 2014 | Daily Update |
0 comments