Canadian Dollar Currency Exchange Update June 26, 2015
USD/CAD Open: 1.2359-1.2360 Overnight Range: 1.2324-1.2371
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $59.23 and gold is at $1,172. US futures are flat. There are no major data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2398. Support is at 1.2311.
The Canadian dollar has remained flat during a relatively quiet week on the domestic front. The next meeting for the Bank of Canada will be on July 15th. The focus this week has centered on Greece, for which we are still awaiting resolution. As we head in to the weekend with no major deal in place with respect to Greece, there could be some risk aversion and a move towards the US dollar. Oil prices are lower and Chinese markets are down 7% causing some risk aversion.
With no major data releases scheduled for both Canada and the United States, the Canadian dollar will continue to track broader market sentiment.
Today’s Suggested Range USD/CAD: 1.2350 – 1.2450
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 26, 2015 | Daily Update |
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