Canadian Dollar FX Morning Update October 22, 2014
USD/CAD Open: 1.1280-1.1282 Overnight Range: 1.1215-1.1287
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $82.78 and gold is at $1,243. US futures are positive. Today, the Bank of Canada announcement and US CPI data is released.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
US CPI data was in line with expectations. The Bank of Canada releases its interest rate update today, it is widely expected for interest rates to remain the same. If there is any commentary on recent turmoil in financial markets, this could be Canadian dollar negative. Commentary on the positive data releases in Canada could boost the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.1200 – 1.1299
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 22, 2014 | Daily Update |
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