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Canadian Dollar FX Update January 17, 2019

USD/CAD Open: 1.3312-1.3313      Overnight Range:     1.3244-1.3319

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $51.45 and gold is at $1,290.  US markets are lower. There are no releases scheduled for today’s session.

The short-term USD/CAD technicals are neutral-bearish.  For today, USD resistance is at 1.3356.  Support is at 1.3241.

The Canadian dollar is lower this morning, underperforming the majority of its G10 peers. Renewed concerns surrounding trade between the US and China coupled with the uncertain fate of Brexits have markets trading conservatively. WTI continues to hover around its 50-day moving average. There are no major domestic releases scheduled ahead of tomorrow’s CPI data.

Today’s Suggested Range USD/CAD: 1.3250 – 1.3350

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 KBFX | January 17, 2019 | Daily Update | 0 comments

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