Canadian Dollar to US Dollar FX Morning Update November 26, 2014
USD/CAD Open: 1.1258-1.1260 Overnight Range: 1.1246-1.1297
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $73.36 and gold is at $1,197. US futures are mixed. Today, the US releases weekly jobless claims, consumer spending, and durable goods data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
With US thanksgiving tomorrow, US markets will be closed tomorrow. A number of US data are released today. Weekly jobless claims reported this morning were worse than expected. Oil prices remain weak and are near recent lows ahead of tomorrow’s OPEC meeting. The key themes for the Canadian dollar remain oil prices, relative domestic growth, and interest rate expectations.
Today’s Suggested Range USD/CAD: 1.1200 – 1.1300
Sincerely,
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 26, 2014 | Daily Update |
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