Canadian Dollar Update September 10, 2018
USD/CAD Open: 1.3156-1.3158 Overnight Range: 1.3151-1.3198
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $68.07 and gold is at $1,197. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bullish. For today, USD resistance is at 1.3217. Support is at 1.3130.
CAD is soft early in today’s session. Last week’s uneventful conclusion to the most recent round of NAFTA talks has headline risk somewhat diminished, however US trade policy remains a prominent theme in FX markets. Friday’s headline miss in employment has had little effect on CAD. Oil prices have remained steady at recent levels. There are no releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
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 | September 10, 2018 | Daily Update |
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