Canadian Dollar Currency Exchange Morning Update June 24, 2014
USD/CAD Open: 1.0731-1.0733 Overnight Range: 1.0716-1.0737
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $106.21 and gold is at $1,323. US futures are mixed. Today, there are no major data releases.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0710 and 1.0610.
The Canadian dollar has hung to on recent gains and was quiet overnight. The Canadian dollar is near a 5 month high, driven by stronger inflation numbers and improving economic data along with assumed FED policy of no rate hikes in the near term or atleast until mid next year. The Canadian dollar strength continues to be limited to Bank of Canada’s policy tone.
Today’s Suggested Range USD/CAD: 1.0700 – 1.0800
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 | June 24, 2014 | Daily Update |
0 comments