Canadian Dollar FX Update February 13, 2017
USD/CAD Open: 1.3108-1.3109 Overnight Range: 1.3073-1.3122
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.44 and gold is at $1,226. 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 1.3139. Support is at 1.3044.
The Canadian dollar is flat early in today’s session. Oil prices remain stagnant. Friday’s employment data provided another positive headline shock, with the Canadian labour market experiencing strong employment growth for two consecutive months. The majority of job gains have been part-time in nature, which coupled with lagging wage growth implies that the Canadian labour market is still far from approaching full employment. There are no domestic data releases scheduled for today, leaving CAD to track broader market movements.
Today’s Suggested Range USD/CAD: 1.3050 – 1.3150
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 13, 2017 | Daily Update |
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