Canadian Dollar Update April 3, 2019
USD/CAD Open: 1.3330-1.3331 Overnight Range: 1.3295-1.3353
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $62.67 and gold is at $1,293. 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 1.3345. Support is at 1.3289.
The Canadian dollar is strong early in today’s session. Improved sentiment from Europe and China have improved risk appetite. Oil prices continue to move higher, as WCS has reached its highest point since last July. The US and China are set to resume trade talks today, and the two countries look to be nearing an agreement. The domestic calendar is thin ahead of Friday’s employment data.
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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By KBFX | April 3, 2019 | Daily Update | 0 comments