Canadian Dollar Update September 4, 2018
USD/CAD Open: 1.3192-1.3193 Overnight Range: 1.3089-1.3194
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $70.77 and gold is at $1,196. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3204. Support is at 1.3085.
Potential trade tensions between the US and several other nations (including Canada) have the USD broadly higher early in today’s session. Sentiment continues to dominate FX markets. There are no expectations of a rate hike at tomorrow’s Bank of Canada meeting, however 20bps of tightening are being priced in for October’s meeting. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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.
Click Here to Subscribe
By Admin | September 4, 2018 | Daily Update |
0 comments