Canadian Dollar FX Morning Update August 19, 2014
USD/CAD Open: 1.0904-1.0906 Overnight Range: 1.0885-1.0919
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $96.87 and gold is at $1,301. US futures are higher. Today, the US releases CPI data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
The Canadian dollar is slightly weaker overnight. US CPI data was generally in line with expectations and this is not expected to put pressure on the FED to raise rates sooner rather than later. USD/CAD seems to oscillating around the 1.0900 USD/CAD and seems content in its recent range.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 19, 2014 | Daily Update | 0 comments