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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

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 3, 2019 | Daily Update | 0 comments

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