Canadian Dollar Daily Update November 25, 2016
USD/CAD Open: 1.3498-1.3499 Overnight Range: 1.3453-1.3516
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $47.45 and gold is at $1,188. US futures are higher. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3528. Support is at 1.3446.
The Canadian dollar is flat, as trading volumes were lower due to yesterday’s holiday in the United States. Next week Canada will release figures for the third quarter of this year, which is expected to be strong following the wildfire-driven contraction in the second quarter. Domestic risk is limited throughout today’s session, there are no domestic releases. Market participants will be looking towards next week’s releases.
Today’s Suggested Range USD/CAD: 1.3450 – 1.3550
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.
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By Admin | November 25, 2016 | Daily Update |
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