Canadian Dollar FX Update April 12, 2018
USD/CAD Open: 1.2613-1.2614 Overnight Range: 1.2561-1.2617
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $66.49 and gold is at $1,344. 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 1.2668. Support is at 1.2548.
The Canadian dollar is little changed, trading slightly below multi-week highs achieved during yesterday’s session. Oil prices continue to move higher, with WTI finding footing above $65/barrel. Commodities are becoming increasingly important to CAD performance in the short-term. There are no significant domestic data releases scheduled for today’s session.
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 | April 12, 2018 | Daily Update |
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