Canadian Dollar Update April 6, 2018
USD/CAD Open: 1.2736-1.2738 Overnight Range: 1.2732-1.2796
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $63.47 and gold is at $1,338. US futures are lower. Today both Canada and the US released employment data for March.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2818. Support is at 1.2698.
The Canadian dollar is higher this morning, following today’s dual employment release. Canada added 32k jobs last monthly, mostly in full-time roles, against expectations of an increase of 20k. The Canadian employment market continues to perform well. The US added 103k jobs, against expectations of a 185k increase. After February’s outstanding report, the US job market cooled off somewhat in March. There are no additional domestic releases today.
Today’s Suggested Range USD/CAD: 1.2700 – 1.2800
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 6, 2018 | Daily Update |
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