Canadian Dollar Update April 5, 2018
USD/CAD Open: 1.2770-1.2771 Overnight Range: 1.2745-1.2802
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $63.58 and gold is at $1,328. 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 1.2833. Support is at 1.2731.
The Canadian dollar has consolidated gains from yesterday’s session. Renewed risk appetite has helped to push CAD higher, along with firmer oil prices. Canada’s trade deficit was wider than expected in February (-2.7B vs. -2.1B expected), as imports continue to outpace exports. CAD has remained well supported, despite the trade balance disappointment. There are no further domestic releases today.
Today’s Suggested Range USD/CAD: 1.2750 – 1.2850
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 5, 2018 | Daily Update |
0 comments