Canadian Dollar FX Update March 26, 2018
USD/CAD Open: 1.2890-1.2891 Overnight Range: 1.2840-1.2922
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $66.04 and gold is at $1,355. 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 1.2941. Support is at 1.2825.
The Canadian dollar pushed hired last week, buoyed by newly inspired NAFTA optimism, and stronger than expected domestic inflation data. Crude oil is firmer, with WTI climbing over $66/barrel. This week will be quiet for domestic releases, with Thursday’s GDP report for January being CAD’s primary event risk. There are no releases of consequence scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.2850 – 1.2950
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 KBFX | March 26, 2018 | Daily Update | 0 comments