Canadian Dollar Update November 16, 2018
USD/CAD Open: 1.3134-1.3136 Overnight Range: 1.3126-1.3187
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.39 and gold is at $1,225. 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 1.3212. Support is at 1.3098.
The Canadian dollar is higher this morning. Positive progress towards a ratified trade agreement between Canada, Mexico, and the U.S., coupled with marginally higher oil prices are the primary benefactors. The market tone is tentative as market participants consider recent developments in the UK pertaining to Brexit. There are no domestic releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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 | November 16, 2018 | Daily Update | 0 comments