Canadian Dollar Currency Exchange Morning Update September 9, 2014
USD/CAD Open: 1.0980-1.0982 Overnight Range: 1.0969-1.0990
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.55 and gold is at $1,255. 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 1.1005. Support is at 1.0725.
The US dollar is higher on broad based strength. Canadian housing start data was slightly weaker than expected. Equity markets are mixed to slightly lower. The USD/CAD has had trouble sustaining its level about the 1.10 mark and a close above this level could be another catalyst for a stronger USD.
Today’s Suggested Range USD/CAD: 1.0950 – 1.1050
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 9, 2014 | Daily Update | 0 comments