Canadian Dollar Currency Exchange FX Morning Update November 10, 2014

USD/CAD Open: 1.1315-1.1317 Overnight Range: 1.1301-1.1341

The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $79.26 and gold is at $1,167. US futures are higher. Today, there are no major data releases.

The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.

The US dollar is broadly weaker. The Canadian dollar has sustained its gains from the positive jobs data release in Canada on Friday. Despite the US jobs data not meeting expectations, the US economy is recovering well. Oil prices seemed to be off their lows and the Canadian dollar could benefit with higher oil prices.

Today’s Suggested Range USD/CAD: 1.1275 – 1.1375

Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 10, 2014 | Daily Update | 0 comments
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