Canadian Dollar USD/CAD Morning Update May 14, 2014
USD/CAD Open: 1.0898-1.0899 Overnight Range: 1.0877-1.0927
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $102.02 and gold is at $1,308. US futures are lower. Today, there are no major data releases.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0800 and 1.0610.
USD/CAD has been flat for the most part. With no major data releases, expect USD/CAD to continue to be rangebound with little volatility. The poor jobs data report in Canada last week sapped the momentum in the loonie and has put USD/CAD back in a wait and see approach. Look for the Canadian dollar to follow risk sentiment directionally.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | May 14, 2014 | Daily Update |
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