Canadian Dollar Currency Exchange Morning Update October 17, 2014
USD/CAD Open: 1.1230-1.1233 Overnight Range: 1.1210-1.1276
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $83.70 and gold is at $1,238. US futures are positive. Today, Canada releases CPI data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
Oil prices are higher and global equities are pointing higher. The US dollar is weaker as equity markets and oil prices are higher and the risk aversion theme has subsided a bit. CPI data this morning in Canada met expectations and showed 2% growth. The Canadian dollar seems correlated to oil and commodity prices and overall risk sentiment. Markets remain fragile.
Today’s Suggested Range USD/CAD: 1.1200 – 1.1299
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 17, 2014 | Daily Update |
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