Canadian Dollar Currency Exchange FX Morning Update September 30, 2014
USD/CAD Open: 1.1178-1.1179 Overnight Range: 1.1133-1.1205
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $94.74 and gold is at $1,211. US futures are positive. Today, the US releases home price and consumer confidence data and Canada releases GDP data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1190. Support is at 1.0850.
The US dollar remains strong on broad based strength. Month end could create some volatility today. Protests in China do not help the Canadian dollar. The Canadian dollar needs strong data releases in Canada and from China to gain some strength vs. the US dollar uptrend.
Today’s Suggested Range USD/CAD: 1.1100 – 1.1199
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | September 30, 2014 | Daily Update |
0 comments