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Canadian Dollar Update September 26, 2017

USD/CAD Open: 1.2377-1.2378      Overnight Range:     1.2354-1.2401

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $51.81 and gold is at $1,303.  US futures are higher. There are no major domestic data releases scheduled for today.

The short term Canadian dollar technicals are neutral.  For today, USD resistance is at 1.2428.  Support is at 1.2343.

The Canadian dollar is softer this morning, a mid-performer amongst the G10 in an environment of broad-based USD strength. Domestic risk is limited before BoC Governor Poloz’s speech tomorrow, which is highly anticipated considered the comments made by Deputy Governor Lane last week. Oil prices are firmer due to recent geopolitical tensions; however, CAD is failing to follow suit.

Today’s Suggested Range USD/CAD: 1.2350 – 1.2450

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 26, 2017 | Daily Update | 0 comments

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