Currency Exchange Morning Update November 14, 2014
USD/CAD Open: 1.1360-1.1362 Overnight Range: 1.1354-1.1395
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $74.78 and gold is at $1,149. US futures are higher. Today, the US releases retail sales data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
US retail sales data came in slightly better than expected at 0.3%. USD/CAD remains rangebound for the most part. Oil prices remain weak. The Canadian dollar is off its lows, despite weak oil, on the back of a strong Canadian jobs data. The focus shifts to inflation data next week.
Today’s Suggested Range USD/CAD: 1.1299 – 1.1399
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
100 King Street West, First Canadian Place | Suite 5700 | Toronto | Ontario | M5X 1C7
www.knightsbridgefx.com
To unsubscribe from receiving this update, please reply with “unsubscribe” in the subject line. Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | November 14, 2014 | Daily Update |
0 comments