News image

Canadian Dollar Update December 7, 2016

USD/CAD Open: 1.3285-1.3286      Overnight Range:      1.3262-1.3293

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $50.46 and gold is at $1,179.  US futures are mixed. Today the Bank of Canada makes the December interest rate decision.

The short term Canadian dollar technicals are neutral.  For today, USD resistance is at 1.3313.  Support is at 1.3254.

The Canadian dollar is trading quietly ahead of the Bank of Canada rate decision scheduled for later in the morning. A rate hold is widely expected; the lack of a press conference to explain the statement afterwards makes it likely the Bank of Canada will reiterate the neutral-dovish tone we’ve seen from the BoC of late.  CAD’s direction for the day is likely to be determined following this morning’s decision.

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

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

Get An Exchange Quote Now




Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239

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


Get Your Free Quote


Book Foreign Exchange Rate


Send Funds



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)



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 7, 2016 | Uncategorized | 0 comments