Canadian Dollar Update February 3, 2017
USD/CAD Open: 1.3013-1.3014 Overnight Range: 1.3010-1.3078
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $53.78 and gold is at $1,216. US futures are higher. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3076. Support is at 1.3003.
The Canadian dollar is relatively unchanged this morning. CAD continues to trade at the upper end of levels seen over recent months. The U.S. released employment data for January today, posting strong growth once again (+227k actual vs. +175k expected). The unemployment rate went down in the U.S., as more individuals have been actively entering the labour force. There are no domestic data releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.2950 – 1.3050
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 3, 2017 | Daily Update |
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