Canadian Dollar Update February 22, 2019
USD/CAD Open: 1.3186-1.3187 Overnight Range: 1.3184-1.3243
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.68 and gold is at $1,332. 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 1.3225. Support is at 1.3164.
The Canadian dollar lost ground yesterday following the speech from Bank of Canada Governor Poloz. Poloz was more conservative than markets had expected, noting that he was in no hurry to tighten monetary policy. Canadian retail sales declined 0.1% in December. Economists had expected a contraction of 0.3%, largely due to falling gasoline prices. There are no additional releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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 22, 2019 | Daily Update |
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