Canadian Dollar Update December 30, 2016
USD/CAD Open: 1.3453-1.3454 Overnight Range: 1.3449-1.3527
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.60 and gold is at $1,157. 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 1.3530. Support is at 1.3430.
The Canadian dollar is higher this morning, as CAD is a mid-performer in an environment of USD weakness. Due to the holiday season, trading will likely be thin today. Commodities prices remain steady. Interest rate differentials will remain a primary driver for CAD throughout early 2017. There are no domestic data releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3400 – 1.3500
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
By Admin | December 30, 2016 | Daily Update |
0 comments