Canadian Dollar Foreign Exchange Update October 26, 2016
USD/CAD Open: 1.3359-1.3360 Overnight Range: 1.3331-1.3381
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $49.03 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 1.3397. Support is at 1.3304.
The Canadian dollar remains soft and is underperforming broadly early in today’s session. There are no domestic data releases of note today; leaving CAD a slave to market flows. CAD has not traded closely with oil recently, however weakness in crude could contribute to CAD’s negative momentum. CAD continues to be without a catalyst in the short-term.
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
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.
Click Here to Subscribe
By Admin | October 26, 2016 | Daily Update |
0 comments