Canadian Dollar Update February 13, 2019

USD/CAD Open: 1.3234-1.3235      Overnight Range:     1.3195-1.3258

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $53.79 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 1.3276.  Support is at 1.3220.

The Canadian dollar is little changed early in today’s session, trading around one-month averages. Domestic risk is limited over the next several sessions. Oil prices have consolidated recent gains. Market sentiment has been an important CAD driver of late, as CAD has traded in tandem with the S&P 500. Sentiment is likely to remain dominant as long as trade discussions between the US and China remain on the front burner.

Today’s Suggested Range USD/CAD: 1.3200 – 1.3300


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.

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By KBFX | February 13, 2019 | Daily Update | 0 comments

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