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Canadian Dollar Update April 11, 2019

USD/CAD Open: 1.3383-1.3384      Overnight Range:     1.3308-1.3396

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $64.05 and gold is at $1,302.  US markets are mixed. There are no releases scheduled for today’s session.

The short-term USD/CAD technicals are neutral-bearish.  For today, USD resistance is at 1.3445.  Support is at 1.3323.

The Canadian dollar is underperforming early in today’s session. The market tone is tentative. The ECB reiterated its bias in favour of caution, given recent developments surrounding Brexit and international trade. Fed minutes showed that the Fed is not under any pressure to act this year, which was supported by yesterday’s inflation figures. There are no additional releases scheduled for today.

Today’s Suggested Range USD/CAD: 1.3350 – 1.3450

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 KBFX | April 11, 2019 | Daily Update | 0 comments

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