Canadian Dollar Currency Exchange FX Morning Update September 2, 2014
USD/CAD Open: 1.0912-1.0914 Overnight Range: 1.0864-1.0921
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $94.92 and gold is at $1,267. US futures are positive. Today, the US releases ISM data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
Equity markets remain strong. The US dollar is stronger over the weekend based on broad US dollar strength. US economic growth seems firm while global economic growth is more uncertain. The focus this week is on the Bank of Canada’s interest rate update.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 2, 2014 | Daily Update |
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