Canadian Dollar Currency Exchange Update May 19, 2015
USD/CAD Open: 1.2193-1.2195 Overnight Range: 1.2129-1.2198
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $58.82 and gold is at $1,220. US futures are higher. Today, there are no major data releases.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2490. Support is at 1.1980.
The US dollar has moved substantially higher broadly vs. a basket of currencies including the Canadian dollar and oil prices have weakened. Governor Poloz has a speech today and this could cause some market volatility. There is a bit of positivity built in to the Bank of Canada’s tone compared to several months ago, and the Canadian dollar could weaken if Poloz provides a different sentiment today.
Today’s Suggested Range USD/CAD: 1.2150 – 1.2250
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 | May 19, 2015 | Daily Update |
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