Canadian Dollar FX Update August 23, 2018
USD/CAD Open: 1.3064-1.3065 Overnight Range: 1.2989-1.3080
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.55 and gold is at $1,197. US markets are mixed. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are bearish. For today, USD resistance is at 1.3106. Support is at 1.3007.
The Canadian dollar is weaker this morning, a mid-performer amidst an environment of broad-based USD strength. Trade talk has once again moved to the forefront, as new tariffs between the US and China are imposed. Oil prices have been volatile of late, but are higher today. There are no major domestic releases scheduled for the remainder of the week.
Today’s Suggested Range USD/CAD: 1.3000 – 1.3100
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 | August 23, 2018 | Daily Update | 0 comments