Canadian Dollar Update April 27, 2018
USD/CAD Open: 1.2862-1.2863 Overnight Range: 1.2858-1.2900
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.83 and gold is at $1,323. 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 1.2900. Support is at 1.2835.
The Canadian dollar remains vulnerable amidst an environment of broad-based USD strength. US GDP figures for the first quarter were better than expected, as the US economy continues to exhibit strong growth. US-Canada spreads continue to widen in a CAD-negative manner, but strong crude prices are providing support. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.2800 – 1.2900
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
By Admin | April 27, 2018 | Daily Update |
0 comments