Canadian Dollar Daily Update November 24, 2015
USD/CAD Open: 1.3353-1.3354 Overnight Range: 1.3324-1.3378
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $42.46 and gold is at $1,077. US futures are lower. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3417. Support is at 1.3306.
The Canadian dollar is quiet this morning. Markets are cautious on news in Syria, hurting commodity currencies like CAD, despite firmer oil prices. The Canadian dollar will likely track oil prices as there are no major domestic data releases scheduled for today. US Q3 GDP was revised up to 2.1% this morning, meeting expectations. It is shaping up to be a quiet week for the Canadian dollar, with oil prices and relative policy continuing to be the main drivers throughout the remainder of 2015.
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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By Admin | November 24, 2015 | Daily Update | 0 comments