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
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By Admin | November 14, 2014 | Daily Update | 0 comments