Canadian Dollar Morning Update February 19, 2014
USD/CAD Open: 1.0942-1.0944 Overnight Range: 1.0910-1.0996
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $103.04 and gold is at $1,320. US futures are lower. Today, the US releases housing start data.
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.
The US dollar is stronger, risk appetite is weaker. Protests in Ukraine and Thailand have gained strength. US markets are lower. The flow seems to be heading back in to the US dollar today. The focus remains on domestic data as a catalyst for the loonie.
Today’s Suggested Range USD/CAD: 1.0970 – 1.1070
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | February 19, 2014 | Daily Update |
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