Canadian Dollar Update December 15, 2017
USD/CAD Open: 1.2785-1.2786 Overnight Range: 1.2738-1.2805
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.38 and gold is at $1,261. 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 1.2855. Support is at 1.2703.
The Canadian dollar is higher early in today’s session, outperforming the majority of its G10 peers. CAD has climbed higher following recent central bank developments. Yesterday’s speech from BoC Governor Poloz was interpreted as hawkish, contrasting Wednesday’s FOMC decision. Monetary policy will continue to be a dominant theme early in 2018, with both Canada and the US looking to make several hikes next year. There are no domestic releases of consequence scheduled for today’s session.
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.
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By Admin | December 15, 2017 | Daily Update |
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