Canadian Dollar Update February 14, 2019
USD/CAD Open: 1.3327-1.3328 Overnight Range: 1.3228-1.3332
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.54 and gold is at $1,313. 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 1.3364. Support is at 1.3233.
The Canadian dollar is lower this morning. Canadian manufacturing sales for December fell short of expectations, contracting 1.3% against expectations of 0.4% growth. Trade talks between China and the US are ongoing, and there appears to be some optimism surrounding their ability to reach a deal. Domestic rate expectations remain muted. There are no additional releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
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 14, 2019 | Daily Update |
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