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Canadian Dollar Update April 9, 2019

USD/CAD Open: 1.3315-1.3316      Overnight Range:     1.3284-1.3320

The Canadian dollar was rangebound in overnight currency
exchange markets.  Oil is at $64.17 and
gold is at $1,308.  US markets are lower.
There are no releases scheduled for today’s session.

The short-term USD/CAD technicals are neutral-bearish.  For today, USD resistance is at 1.3317.  Support is at 1.3264.

The Canadian dollar has gained ground against the USD over the past two sessions. Surging oil prices have buoyed CAD, as they test fresh 2019 highs. Domestic rate expectations have stabilized, alongside expectations from the Fed, moving relative monetary policy to the backburner. There are no major domestic releases scheduled for the remainder of the week, leaving CAD to track oil prices.

Today’s Suggested Range USD/CAD: 1.3250 – 1.3350

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 KBFX | April 9, 2019 | Daily Update | 0 comments

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