Canadian Dollar Currency Exchange FX Morning Update October 2, 2014
USD/CAD Open: 1.1131-1.1133 Overnight Range: 1.1070-1.1179
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $89.25 and gold is at $1,213. US futures are mixed. Today, the US releases weekly jobless claims.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1190. Support is at 1.0850.
The ECB left rates unchanged this morning but offered a plan to purchase assets to boost the European economy. Weekly jobless claims were stronger than expected this morning. Layoffs in the US remain low. The Canadian dollar gained some ground overnight on some broad weakness in the US dollar.
Today’s Suggested Range USD/CAD: 1.1100 – 1.1199
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 2, 2014 | Daily Update |
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