Canadian Dollar Morning Update August 11, 2017
USD/CAD Open: 1.2681-1.2682 Overnight Range: 1.2652-1.2753
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $48.40 and gold is at $1,294. US futures are mixed. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2755. Support is at 1.2675.
The Canadian dollar is quiet, gaining modestly early in today’s session. Geopolitical concerns remain at the forefront, as tensions between the U.S. and North Korea continue to escalate. Crude is lower today, after WTI tested $50/barrel during yesterday’s session. U.S. inflation for July was once again soft, raising further questions about the Fed’s willingness to raise rates a third time in this calendar year. There are no major domestic releases scheduled during today’s session, and we expect CAD to trade based on its risk profile.
Today’s Suggested Range USD/CAD: 1.2600 – 1.2700
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.
Click Here to Subscribe
Worldwide Hose
Emtra
By Admin | August 11, 2017 | Daily Update |
0 comments