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Canadian Dollar FX Update February 9, 2018

USD/CAD Open: 1.2605-1.2606      Overnight Range:     1.2560-1.2691

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $60.39 and gold is at $1,315.  US futures are higher. Today Canada released employment data for January.

The short term Canadian dollar technicals are neutral.  For today, USD resistance is at 1.2642.  Support is at 1.2572.

The Canadian dollar is flat early in today’s session. Employment data for January missed the mark widely, as expects were looking to a gain of 10k jobs. Canada lost 88k jobs in January, the largest monthly decline of the past nine years. However, the job losses were confined to part-time work, as full-time employment actually grew by 49k jobs over the same time period. There are no additional domestic releases of consequence today.

Today’s Suggested Range USD/CAD: 1.2550 – 1.2650

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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 Admin | February 9, 2018 | Daily Update | 0 comments