Canadian Dollar Currency Exchange FX Morning Update October 20, 2014

USD/CAD Open: 1.1265-1.1268 Overnight Range: 1.1249-1.1298

The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $83.15 and gold is at $1,245. US futures are negative. 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.

Equity markets remain cautious on global growth sentiment. Volatility is not helping the Canadian dollar. The catalyst for the Canadian dollar remains domestic economic data, oil and commodity prices, and global growth sentiment. Worries over global growth are causing flow of funds in to the US dollar for safety.

Today’s Suggested Range USD/CAD: 1.1200 – 1.1299

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

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 | October 20, 2014 | Daily Update | 0 comments
Popular Content