Canadian Dollar to US Dollar FX Morning Update November 19, 2014
USD/CAD Open: 1.1340-1.1342 Overnight Range: 1.1293-1.1357
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $75.04 and gold is at $1,198. US futures are negative. Today, the FOMC releases minutes.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
The Senate failed to support the Keystone pipeline, which is slightly Canadian dollar negative. FED minutes released today will be watched closely to see the FED’s view on economic growth, global growth, and inflation. Any hint that US rate hikes could be delayed due to global growth concerns or lack of inflation would be US dollar negative.
Today’s Suggested Range USD/CAD: 1.1275 – 1.1375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 19, 2014 | Daily Update |
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