Canadian Dollar Update October 30, 2018
USD/CAD Open: 1.3137-1.3138 Overnight Range: 1.3100-1.3144
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $66.17 and gold is at $1,224. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral. For today, USD resistance is at 1.3140. Support is at 1.3107.
The Canadian dollar continues to trade slightly above recent one-month lows against the USD. Renewed trade tensions between the US and China hurt North American stocks once again and have contributed to risk-off trade. The USD made gains against the majority of G10 currencies. Energy prices have started the week sluggishly, as WTI is lower. There are no significant 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 | October 30, 2018 | Daily Update | 0 comments