Canadian Dollar Update March 21, 2019
USD/CAD Open: 1.3336-1.3337 Overnight Range: 1.3275-1.3355
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $60.12 and gold is at $1,316. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3381. Support is at 1.3317.
The US dollar has rebounded against the Canadian dollar, following yesterday’s FOMC-driven drop. The FOMC doubled down on its dovish stance. No rate increases are expected for the remainder of 2019, and only one is scheduled for 2020. Global uncertainty remains high, particularly surrounding Brexit, and ongoing trade concerns with China. There are no domestic releases scheduled ahead of tomorrow’s Canadian inflation data.
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
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 21, 2019 | Daily Update |
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