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Canadian Dollar FX Update April 4, 2019

USD/CAD Open: 1.3361-1.3362      Overnight Range:     1.3334-1.3373

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $62.45 and gold is at $1,286.  US markets are higher. There are no releases scheduled for today’s session.

The short-term USD/CAD technicals are neutral-bearish.  For today, USD resistance is at 1.3399.  Support is at 1.3318.

The Canadian dollar is lower today, amidst quiet trading. Oil prices remain well supported around current levels. Talks between China and the US appear to be progressing well by most accounts. Yesterday the UK voted against a potentially chaotic no-deal Brexit, helping to push the GBP higher. There are no domestic releases scheduled ahead of tomorrow’s dual employment report.

Today’s Suggested Range USD/CAD: 1.3300 – 1.3400


Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239

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 KBFX | April 4, 2019 | Daily Update | 0 comments

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