Canadian Dollar FX Morning Update August 11, 2014
FX Morning Update August 11, 2014
USD/CAD Open: 1.0957-1.0959 Overnight Range: 1.0949-1.0978
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $97.59 and gold is at $1,309. US futures are higher. There are no major data releases today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
With no major data releases today, the Canadian dollar could follow risk sentiment. Geopolitical tensions remain with Iraq and Ukraine issues lingering. The US dollar has been strong over the last several weeks and the disappointing jobs data released on Friday definitely wasn’t a catalyst for the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.0899 – 1.0999
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 11, 2014 | Daily Update |
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