Canadian Dollar Update June 21, 2018
USD/CAD Open: 1.3310-1.3311 Overnight Range: 1.3294-1.3335
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $64.95 and gold is at $1,266. 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 1.3345. Support is at 1.3285.
The Canadian dollar continues to decline against the US dollar. CAD’s drivers remain negative; commodities are lower, and yield spreads are widening in a CAD-negative manner. Investors continue to consider the willingness of the Bank of Canada to raise interest rates amidst an environment of trade uncertainty. There are no top tier data releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3250 – 1.3350
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 | June 21, 2018 | Daily Update |
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