Canadian Dollar Update September 26, 2018
USD/CAD Open: 1.2958-1.2959 Overnight Range: 1.2942-1.2966
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $71.89 and gold is at $1,198. 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 1.2979. Support is at 1.2942.
CAD is quiet, as FX markets await the FOMC rate decision later today. A rate hike is expected, which is an irregularity for the September meeting. Sentiment continues to dominate FX markets, as headline risk for NAFTA remains elevated. Oil prices are little changed, while spreads continue to weigh on CAD. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.2900 – 1.3000
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, 2018 | Daily Update |
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