Canadian Dollar Update February 12, 2019
USD/CAD Open: 1.3259-1.3260 Overnight Range: 1.3243-1.3315
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.78 and gold is at $1,314. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3285. Support is at 1.3229.
The Canadian dollar is higher this morning, as risk appetite has increased broadly. There is some recent optimism pertinent to discussions between the US and China. The American imposed deadline to reach an agreement in March 1st, and ongoing negotiations are likely to be a significant story line prior to a resolution. Oil prices are higher, underpinning CAD strength. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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 | February 12, 2019 | Daily Update |
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