Canadian Dollar Update April 30, 2018
USD/CAD Open: 1.2848-1.2849 Overnight Range: 1.2832-1.2875
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.44 and gold is at $1,312. 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 1.2826.
The Canadian dollar has stabilized around current levels. NAFTA negotiations remain ongoing, and although Canadian representatives have noted that significant progress has been made, a deal has not yet been struck. WTI remains well supported, buoying CAD. The domestic calendar is busier this week, starting with tomorrow’s monthly GDP data. There are no domestic releases of consequence 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.
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By Admin | April 30, 2018 | Daily Update |
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