Canadian Dollar Update June 22, 2018
USD/CAD Open: 1.3318-1.3319 Overnight Range: 1.3262-1.3384
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.39 and gold is at $1,268. US futures are higher. Today Canada released retail sales for April, and CPI for May.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.3436. Support is at 1.3216.
CAD continues to hover around 1-year lows. Both retail sales and CPI data disappointed. Inflation was slower than expected, growing 2.2% against expectations of a 2.6% pace. Retail sales were also below expectations, with retail sales dropping 1.2% against expectations of stagnation. CAD was lower following the releases. There are no additional releases scheduled for today.
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 22, 2018 | Daily Update |
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