Canadian Dollar FX Update June 13, 2017
USD/CAD Open: 1.3240-1.3241 Overnight Range: 1.3231-1.3326
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $45.95 and gold is at $1,261. 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 1.3405. Support is at 1.3181.
The Canadian dollar rose sharply higher yesterday, in response to Bank of Canada Senior Deputy Governor Wilkins’ comments yesterday. Wilkins alluded to potential policy tightening in the second half of the year, much sooner than market participants were expecting. Canadian economic data has been very strong of late. Oil prices are better supported this morning. There are no domestic releases of importance scheduled for today’s session.
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 | June 13, 2017 | Daily Update |
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