Canadian Dollar FX Update November 22, 2018
USD/CAD Open: 1.3223-1.3224 Overnight Range: 1.3213-1.3245
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $54.56 and gold is at $1,229. US markets are mixed. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3236. Support is at 1.3209.
CAD gained some ground during yesterday’s session, as stock markets and oil prices recovered. US officials continue to engage in trade discussions with China. The Canadian dollar reacted favorably to yesterday’s speech from Finance Minister Morneau. Trading activity will be light today, as it is a holiday in the United States. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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 | November 22, 2018 | Daily Update | 0 comments