Canadian Dollar FX Update February 16, 2017
USD/CAD Open: 1.3044-1.3045 Overnight Range: 1.3008-1.3086
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.42 and gold is at $1,238. US futures are lower. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3097. Support is at 1.2994.
The Canadian dollar is modestly higher this morning, as the USD has faded gains from yesterday’s CPI data. Higher oil prices are underpinning CAD strength. There are no domestic data releases scheduled for today. Risk-off trading appears to be in effect in FX markets, as the safe haven currencies (CHF, JPY) are higher, as well as gold. CAD has consolidated around this level for the past several sessions.
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.
Click Here to Subscribe
Stop overpaying with
your bank on foreign exchange
We are built to beat bank exchange rates and save you money
By Admin | February 16, 2017 | Daily Update | 0 comments