Canadian Dollar Currency Update April 23, 2015
USD/CAD Open: 1.2234-1.2236 Overnight Range: 1.2214-1.2269
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $56.42 and gold is at $1,189. US futures are negative. Today, the US releases weekly jobless claims data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.2490. Support is at 1.2170.
USD/CAD remains rangebound for the most part. Oil prices remain steady. The US dollar remains mixed vs. a broad range of currencies. The Canadian dollar seems comfortable in its current range. Look for USD/CAD to continue to move in a narrow range with no major catalysts. The key drivers for the Canadian dollar remain oil prices, and the Bank of Canada and Fed outlook.
Today’s Suggested Range USD/CAD: 1.2200 – 1.2300
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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By Admin | April 23, 2015 | Daily Update | 0 comments