Canadian Dollar Update June 28, 2018
USD/CAD Open: 1.3290-1.3291 Overnight Range: 1.3274-1.3351
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $72.80 and gold is at $1,253. US futures are mixed. There are no major domestic data releases scheduled for today.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3358. Support is at 1.3247.
CAD is strong, outperforming all of its G10 peers against the USD. CAD has recovered from yesterday’s Poloz-driven one-year lows, which is underpinned by strong oil prices. Markets have once again priced in two 25 bp rate hikes from the Bank of Canada this calendar year. There are no domestic 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 28, 2018 | Daily Update |
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