Canadian Dollar FX Update February 15, 2019
USD/CAD Open: 1.3263-1.3264 Overnight Range: 1.3256-1.3313
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $55.42 and gold is at $1,321. 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 1.3319. Support is at 1.3236.
The Canadian dollar remains rangebound against the USD. Stronger oil prices are providing support to CAD. Sentiment continues to play a major role in FX markets, with negotiations between the US and China at the forefront. There are no major domestic events ahead of next Thursday’s speech from BoC Governor Poloz. Markets are pricing in only 2bps of tightening from the BoC by July.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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 15, 2019 | Daily Update |
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