Canadian Dollar Currency Exchange FX Morning Update September 3, 2014
USD/CAD Open: 1.0904-1.0906 Overnight Range: 1.0896-1.0944
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.90 and gold is at $1,266. US futures are positive. Today, the US releases Fed beige book data and the Bank of Canada releases its interest rate update.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
Better than expected data from China was released overnight. Kiev and Russia may have agreed on a ceasefire plan. The Bank of Canada is not expected to make any changes to its interest rate policy or a major shift in its neutral bias stance. The release will be analyzed closely for tone as there is no press conference or Q&A.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 3, 2014 | Daily Update |
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