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Canadian Dollar Update April 10, 2019

USD/CAD Open: 1.3345-1.3346      Overnight Range:     1.3318-1.3360

The Canadian dollar was rangebound in overnight currency
exchange markets.  Oil is at $64.42 and
gold is at $1,309.  US markets are higher.
There are no releases scheduled for today’s session.

The short-term USD/CAD technicals are neutral-bearish.  For today, USD resistance is at 1.3396.  Support is at 1.3292.

The Canadian dollar is slightly
lower early in today’s session. US CPI data was better than expected but
remains slightly below the Fed mandated 2% bracket. President Trump has turned
his attention towards Europe, threatening $11B worth of tariffs on a basket of
European goods. The IMF has cited slower European growth as a reason for
downgrading its global growth projections, and additional tariffs will only
exacerbate European economic sluggishness. There are no domestic releases scheduled
for today.

Today’s Suggested Range USD/CAD: 1.3300 – 1.3400


Rahim Madhavji |
Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239

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 KBFX | April 10, 2019 | Daily Update | 0 comments

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