Canadian Dollar Currency Exchange FX Morning Update October 27, 2014
USD/CAD Open: 1.1244-1.1246 Overnight Range: 1.1211-1.1246
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $80.28 and gold is at $1,231. 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.
Worse than expected German business sentiment data was released overnight. Equity earnings releases continue to be positive. The focus this week is on the FOMC meeting and GDP in the US and GDP data in Canada. Look for the Canadian dollar to follow oil, commodity, and equity market sentiment directionally.
Today’s Suggested Range USD/CAD: 1.1175 – 1.1275
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 27, 2014 | Daily Update |
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