Canadian Dollar Update January 3, 2019
USD/CAD Open: 1.3534-1.3535 Overnight Range: 1.3526-1.3663
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $47.35 and gold is at $1,289. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3633. Support is at 1.3460.
The Canadian dollar is stronger early in today’s session, following a rally in oil prices. Market participants are looking towards tomorrow’s employment data, as well as next week’s Bank of Canada rate decision. The outlook for central bank policy is offering support, and yield spreads are narrowing. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3500 – 1.3600
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 3, 2019 | Daily Update |
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