Canadian Dollar Update September 14, 2018
USD/CAD Open: 1.3028-1.3029 Overnight Range: 1.2982-1.3029
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $68.71 and gold is at $1,207. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3053. Support is at 1.2975.
The Canadian dollar has retraced a portion of earlier gains this session. NAFTA discussions remain at a standstill; however, the expectation remains that an agreement will be reached at some point. CAD has been resilient despite lower oil prices and wider spreads, likely due to the strong possibility of an additional rate hike this year. There are no releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3000 – 1.3100
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 14, 2018 | Daily Update |
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