Canadian Dollar US Dollar FX Morning Update August 14, 2014
FX Morning Update August 14, 2014
USD/CAD Open: 1.0893-1.0895 Overnight Range: 1.0873-1.0920
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $97.42 and gold is at $1,319. US futures are flat. Today, there are no major data releases.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
US weekly jobless claims remain at near pre-recession levels despite rising to a 6 week high. The Canadian dollar has gained overnight and is near the latest pre-jobs data release level. Eurozone GDP disappointed overnight. The Canadian dollar remains rangebound looking for a catalyst.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | August 14, 2014 | Daily Update |
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