Canadian Dollar Currency Exchange FX Morning Update September 29, 2014
USD/CAD Open: 1.1148-1.1149 Overnight Range: 1.1137-1.1182
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $93.21 and gold is at $1,220. US futures are negative. Today, the US releases consumer spending data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1190. Support is at 1.0850.
Clashes overnight in Hong Kong is impacting risk sentiment. The US dollar continues its broad based US dollar strength. Commodity currencies are softer. The main theme continues to be economic growth in the US vs. Canada and the interest rate cycle.
Today’s Suggested Range USD/CAD: 1.1100 – 1.1199
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 29, 2014 | Daily Update |
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