Canadian Dollar US Dollar FX Morning Update December 10, 2014
USD/CAD Open: 1.1463-1.1465 Overnight Range: 1.1432-1.1478
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $62.31 and gold is at $1,229. US futures are lower. Today, there are no major data releases.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1465. Support is at 1.1329.
US futures are lower. A cautious tone lurks. OPEC lowered its forecast for oil demand in 2015. The Canadian dollar is see-sawing trying to find its direction. Weak oil prices continue to drag on the Canadian dollar. With no major data releases today, look for the Canadian dollar to follow market sentiment directionally.
Today’s Suggested Range USD/CAD: 1.1390 – 1.1490
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. 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.
By Admin | December 10, 2014 | Daily Update | 0 comments