Canadian Dollar FX Update February 12, 2018
USD/CAD Open: 1.2597-1.2598 Overnight Range: 1.2556-1.2606
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $59.91 and gold is at $1,322. 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 1.2655. Support is at 1.2526.
The Canadian dollar is trading similar to Friday’s close early in today’s session. Last Friday’s employment driven lows were short-lived, with CAD rebounding shortly after. Despite the headline disappointment of job losses, the peripherals (full-time, wages) continued to be positive. Resultantly, expectations of BoC tightening this year have moderated slightly. There are no domestic releases of consequence 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 | February 12, 2018 | Daily Update |
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