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
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By Admin | October 20, 2014 | Daily Update | 0 comments
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