Canadian Dollar Currency Exchange Update February 18, 2015
USD/CAD Open: 1.2451-1.2453 Overnight Range: 1.2381-1.2459
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $52.52 and gold is at $1,208. US futures are negative. Today, the FOMC releases its minutes.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.2460. Support is at 1.2341.
The US dollar is stronger overnight as US yields are higher. Oil prices are down today as is the Canadian dollar. Issues between Greece and the Eurozone is an indirect overhang on the Canadian dollar risk appetite. All eyes are on the FOMC minutes to be released today. It will be interesting to see if any firmer timelines will be discussed in the minutes along with any dependency on international issues. For the most part, the US dollar should benefit from any indication rate hikes could happen in June 2015.
Today’s Suggested Range USD/CAD: 1.2400 – 1.2500
Sincerely,
Rahim Madhavji | Knightsbridge Foreign Exchange
www.knightsbridgefx.com
By Admin | February 18, 2015 | Daily Update |
0 comments