Canadian Dollar Update January 22, 2018
USD/CAD Open: 1.2454-1.2455 Overnight Range: 1.2449-1.2500
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $63.26 and gold is at $1,331. US futures are mixed. There are no major domestic data releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2530. Support is at 1.2412.
The Canadian dollar is relatively unchanged to start the week. There are no domestic releases that are likely to be market moving, with Wholesale Trade Sales being released this morning. The outlook for central bank policy remains dominant, as NAFTA talks are scheduled to continue through the 29th of January. NAFTA talks were highlighted as a one of the primary concerns for the Canadian economy by BoC Governor Poloz last week. Later in the week, markets will be looking towards Thursday’s retail sales and Friday’s CPI data.
Today’s Suggested Range USD/CAD: 1.2400 – 1.2500
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 | January 22, 2018 | Daily Update |
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