Canadian Dollar Update February 13, 2015
USD/CAD Open: 1.2478-1.2479 Overnight Range: 1.2463-1.2535
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $52.69 and gold is at $1,229. US futures are positive. Today, there are no major data releases today.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.2800. Support is at 1.2391.
Oil prices are higher as is the Canadian dollar and oil prices continue to be very volatile. US import prices have fallen, largely due to weaker oil prices signifying inflation is not a major threat. A cease-fire agreement between Russia and Ukraine has boosted market sentiment. Time is running out for Greece to negotiate its bailout agreement. The Canadian dollar continues to be impacted by oil prices and Bank of Canada interest rate expectations.
Today’s Suggested Range USD/CAD: 1.2450 – 1.2550
Sincerely,
Rahim Madhavji | Knightsbridge Foreign Exchange
www.knightsbridgefx.com
By Admin | February 13, 2015 | Daily Update |
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