News image

Canadian Dollar Update December 14, 2016

USD/CAD Open: 1.3111-1.3112      Overnight Range:      1.3092-1.3142

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $52.21 and gold is at $1,167.  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 1.3153.  Support is at 1.3081.

The Canadian dollar is flat this morning, trading quietly in the absence of domestic data. The USD continues to trade defensively ahead of today’s rate decision, which will serve as the main event for the day in FX markets. Crude oil prices have backed off recent highs, which alongside CAD-negative yield spreads have CAD’s usual drivers moving against CAD. Today’s FOMC decision will set the tone for FX markets, leaving CAD to trade based on its risk profile.

Today’s Suggested Range USD/CAD: 1.3000 – 1.3200

Don't Waste Money With Banks.
Get Exchange Rates Up to 2% Better With KnightsbridgeFX

Get An Exchange Quote Now

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

Get Started With Knightsbridge Foreign Exchange

1

Get Your Free Quote

2

Book Foreign Exchange Rate

3

Send Funds

2

3

Step 1 : Get Your Free Quote

You completed 0% of your profile.

First Name *

Last Name *

Address *

City *

Province *

Postal Code *

Phone *

Email *

Occupation *

Date of Birth *

Please provide the reason for buying or selling the currency: *

(Travel, Bills to Pay, Purchase or Sale of Investment, etc.)

Please explain how you first obtain the source of funds being sold: *

(such as: Work Income, Sale of Investment, Gift, Inheritance, etc)

Are you or any close relative a Politically Exposed Foreign Person? *

(Head of State, Member of Senate, House of Commons, or Legistrature, etc)

Yes

No

I confirm I am not transacting on behalf of a third party and I have read and I agree to the Terms and Conditions

By Admin | December 14, 2016 | Daily Update | 0 comments