Canadian Dollar Currency Exchange Morning Update August 28, 2014
USD/CAD Open: 1.0865-1.0867 Overnight Range: 1.0836-1.0872
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $94.41 and gold is at $1,293. US futures are negative. Today, US reports GDP data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
Oil prices have crept higher on geopolitical issues. Kiev claims Russia has entered its territory. US economic growth this morning was reported better than expected. Weekly jobless claims data was as expected. USD/CAD seems content around the 1.0900 USD/CAD level.
Today’s Suggested Range USD/CAD: 1.0845 – 1.0945
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 28, 2014 | Daily Update |
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