Canadian Dollar Update October 29, 2018
USD/CAD Open: 1.3102-1.3103 Overnight Range: 1.3082-1.3115
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.46 and gold is at $1,233. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral. For today, USD resistance is at 1.3118. Support is at 1.3073.
The Canadian dollar continues to consolidate recent declines against the USD. North American stock markets are poised to open in the green this morning, contributing to risk appetite. Market participants are looking towards Wednesday’s domestic GDP data, as well as Friday’s dual employment report for Canada and the US. Crude prices are once again lower. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3050 – 1.3150
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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 KBFX | October 29, 2018 | Daily Update | 0 comments