Canadian Dollar Update March 19, 2019
USD/CAD Open: 1.3257-1.3258 Overnight Range: 1.3249-1.3345
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $59.33 and gold is at $1,309. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3351. Support is at 1.3193.
The Canadian dollar is higher early in today’s session. Both equities and oil prices are better, buoying CAD. Event risk is elevated in the short-term, as today Canada will release the final budget before the next election. Typically, budgets do not have a large impact on the Canadian dollar. Additionally, market participants will look towards tomorrow’s Fed rate decision. There are no additional releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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 | March 19, 2019 | Daily Update |
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