Canadian Dollar Currency Exchange Morning Update September 17, 2014
USD/CAD Open: 1.0964-1.0968 Overnight Range: 1.0947-1.0986
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $94.63 and gold is at $1,238. US futures are mixed. Today, the FED releases its interest rate policy update.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1100. Support is at 1.0850.
The Bank of China is trying to stimulate the economy by injecting money in its banking system. All eyes are set on the FED and its interest rate policy update. There is somewhat of an expectation that the FED will have a hawkish bias towards interest rates. The FED will continue to focus on the labor market, GDP, and inflation. There could be a lot of volatility today after the release in the afternoon.
Today’s Suggested Range USD/CAD: 1.0925 – 1.1025
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
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.
Stop overpaying with
your bank on foreign exchange
We are built to beat bank exchange rates and save you money
Knightsbridge Foreign Exchange is registered and regulated by FINTRAC (a government of Canada agency). Like most financial institutions, we are required to validate the identity of all clients. We have strict measures in place to protect your privacy.
By Admin | September 17, 2014 | Daily Update | 0 comments