Canadian Dollar FX Update April 19, 2018
USD/CAD Open: 1.2611-1.2612 Overnight Range: 1.2585-1.2645
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $69.06 and gold is at $1,350. 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 1.2658. Support is at 1.2547.
CAD is attempting to rally from yesterday’s BoC-driven decline early in today’s session. The Bank of Canada was more cautious in discussing trade uncertainty than expected, causing CAD to fall. Overall, the BoC remains data-dependent, and cited a sluggish start to 2018 as something to be monitored. WTI is approaching $70/barrel, continuing to climb. There are no domestic releases scheduled for today.
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 19, 2018 | Daily Update |
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