Canadian Dollar Update September 18, 2018
USD/CAD Open: 1.2988-1.2989 Overnight Range: 1.2985-1.3065
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $69.74 and gold is at $1,206. 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 1.3048. Support is at 1.2972.
The Canadian dollar is higher early in today’s session, as commodity block currencies are outperforming. Trade concerns have reemerged, as the US imposed another round of tariffs on China last night. China is expected to respond in kind, with the two parties looking to reengage in trade talks. The data schedule is light, with no major releases in Canada or the US.
Today’s Suggested Range USD/CAD: 1.2950 – 1.3050
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 18, 2018 | Daily Update |
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