Canadian Dollar Update July 25, 2018
USD/CAD Open: 1.3086-1.3087 Overnight Range: 1.3085-1.3166
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $68.74 and gold is at $1,241. US markets are mixed. There are no releases scheduled for today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3163. Support is at 1.3046.
CAD is higher this morning amidst an environment of broad-based USD weakness before the US-EU trade meeting. Major commodities are slightly firmer. Developments from trade talk headlines are likely to effect FX markets in the short-term. OIS are pricing in one full 25bp rate hike from the Bank of Canada before the end of 2018. There are no additional releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3050 – 1.3150
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 | July 25, 2018 | Daily Update |
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