Canadian Dollar Morning Update April 19, 2016
USD/CAD Open: 1.2714-1.2715 Overnight Range: 1.2701-1.2800
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $40.34 and gold is at $1,252. 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 1.2902. Support is at 1.2635.
The Canadian dollar is stronger once again this morning, as stronger equities and commodities boost risk appetite in FX. CAD continues to extend gains, breaking past key resistance levels. Today is a light day for North American data, so we can expect the Canadian dollar to track the price of oil, as well as the broader risk sentiment.
Today’s Suggested Range USD/CAD: 1.2650 – 1.2750
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 | April 19, 2016 | Daily Update |
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