Canadian Dollar US Dollar FX Morning Update November 18, 2014
USD/CAD Open: 1.1293-1.1295 Overnight Range: 1.1259-1.1308
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $75.02 and gold is at $1,196. US futures are mixed. Today, there are no major data releases.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
Data from Germany overnight was better than expected. US producer prices were higher than expected this morning. USD/CAD seems steady and looking for another catalyst. With no major data release today, USD/CAD should follow risk sentiment.
Today’s Suggested Range USD/CAD: 1.1275 – 1.1375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 18, 2014 | Daily Update |
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