Canadian Dollar Update May 27, 2014
USD/CAD Open: 1.0848-1.0850 Overnight Range: 1.0835-1.0865
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.34 and gold is at $1,277. US futures are higher. Today, the US releases durable goods order data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0800 and 1.0610.
US markets continue to move higher and the S&P 500 is in record territory. USD/CAD continues to trade in a tight narrow range. The Canadian dollar has been slowly grinding higher over the last week but is unable to make any significant moves. The focus has shifted to US and Canadian GDP data out this Thursday and Friday.
Today’s Suggested Range USD/CAD: 1.0820 – 1.0920
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. 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.
By Admin | May 27, 2014 | Daily Update |
0 comments