Canadian Dollar and US Dollar FX Morning Update November 20, 2014
USD/CAD Open: 1.1320-1.1322 Overnight Range: 1.1305-1.1370
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $74.86 and gold is at $1,192. US futures are negative. Today, the US releases weekly jobless claims and CPI data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
Overnight, data from Europe and China was weaker than expected, which is a cause for concern for global growth expectations. US CPI data was flat and in line with expectations. The more inflation is contained, the more room the FED has to keep interest rates as is. Canada’s inflation data is released tomorrow.
Today’s Suggested Range USD/CAD: 1.1275 – 1.1375
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 20, 2014 | Daily Update |
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