Canadian Dollar Foreign Exchange Update July 19, 2017
USD/CAD Open: 1.2595-1.2596 Overnight Range: 1.2594-1.2653
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $46.48 and gold is at $1,242. 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 1.2686. Support is at 1.2566.
CAD is once again quiet early in today’s session, trading lightly in the absence of domestic data. Mild risk appetite persists amidst an environment of USD weakness. Second-tier data to watch today include EIA oil inventories and manufacturing sales. CAD’s primary drivers are steady. Expect the Canadian dollar to continue to track the broader market in the absence of significant domestic data.
Today’s Suggested Range USD/CAD: 1.2550 – 1.2650
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 | July 19, 2017 | Daily Update |
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