Canadian Dollar Currency Exchange Update June 22, 2015
USD/CAD Open: 1.2235-1.2237 Overnight Range: 1.2217-1.2277
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $59.86 and gold is at $1,192. US futures are higher. There are no major data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2288. Support is at 1.2208.
The Canadian dollar has remained relatively flat over the past several sessions. This week’s data calendar remains empty, so the focus will be US-centric. US PCE inflation data is set to be released this Thursday, which could create some volatility later in the week. Today, all eyes will be on Greece as the country has pitched a reform package over the weekend that will be reviewed by its creditors. Positive news out of Greece will move global equities higher, but FX will likely remain quiet. Greece remains a headlines risk that could easily cause some volatility if the issue doesn’t get sorted out sooner rather than later.
Today’s Suggested Range USD/CAD: 1.2200 – 1.2300
Sincerely,
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
www.knightsbridgefx.com
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 22, 2015 | Daily Update |
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