Canadian Dollar Update August 14, 2017
USD/CAD Open: 1.2710-1.2711 Overnight Range: 1.2662-1.2716
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $48.50 and gold is at $1,289. 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 1.2754. Support is at 1.2654.
The Canadian dollar is lower early in today’s session, a mid-performer amidst an environment of broad-based USD strength. This week is poised to be more active than last; U.S. retail sales and FOMC meeting minutes, Canadian CPI data, and the start of NAFTA talks are all on the schedule for this week. U.S. futures are higher, as geopolitical concerns surrounding North Korea have subsided in the short-term. NAFTA negotiations are likely to bring about tweaks to the agreement, but a large-scale reworking remains unlikely. There are no domestic releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.2650 – 1.2750
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 | August 14, 2017 | Daily Update |
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