Canadian Dollar FX Update September 20, 2018
USD/CAD Open: 1.2893-1.2894 Overnight Range: 1.2884-1.2936
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $71.46 and gold is at $1,212. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are bearish. For today, USD resistance is at 1.3005. Support is at 1.2873.
The Canadian dollar has moved higher against amidst an environment of broad-based USD weakness. Reports that the US has made concessions to some protectionist policies in NAFTA negotiations is seen as a positive. Lack of progress in NAFTA discussions could motivate the US to continue to explore bilateral trade agreements, mostly significantly with Mexico. The domestic calendar remains light, as there are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.2850 – 1.2950
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 | September 20, 2018 | Daily Update |
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