Canadian Dollar Daily Update September 15, 2016
USD/CAD Open: 1.3201-1.3202 Overnight Range: 1.3157-1.3236
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $43.86 and gold is at $1,369. 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 1.3249. Support is at 1.3141.
The Canadian dollar is flat, trading in tandem with oil prices. The US released retail sales data for the month of August, which matched expectations by declining 0.1%. Domestic risk is limited today, so CAD is likely to track oil prices and the broader market. Volatility has been limited over the past few sessions.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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 | September 15, 2016 | Daily Update |
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