Canadian Dollar March 11, 2014
USD/CAD Open: 1.1122-1.1124 Overnight Range: 1.1096-1.1131
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $100.66 and gold is at $1,349. US futures are higher. Today, there are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
With no major data releases today, look for a rangebound USD/CAD. Oil prices are getting weaker, the situation in Ukraine is lingering, and many are looking to economic data to determine global growth strength. The main themes continue to be interest rate differential, global growth sentiment, and commodity prices.
Today’s Suggested Range USD/CAD: 1.1070 – 1.1170
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | March 11, 2014 | Daily Update |
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