FX Morning Update January 5, 2015
USD/CAD Open: 1.1779-1.1781 Overnight Range: 1.1761-1.1849
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $50.78 and gold is at $1,196. US futures are negative. Today, there are no major data releases.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1880. Support is at 1.1543.
Oil prices are down to new 5 year lows. The Canadian dollar continued to be slaughtered over the last few days. The Euro is also down to 9 year low vs. the US dollar. All eyes are on FED minutes and US jobs data to be released on Wednesday and Friday respectively. The US dollar remains strong across the board as the US dollar index is at a 9 year high. A rise in oil prices seems to be the catalyst needed for the Canadian dollar to rebound.
Today’s Suggested Range USD/CAD: 1.1750 – 1.1850
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
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.
Stop overpaying with
your bank on foreign exchange
We are built to beat bank exchange rates and save you money
By Admin | January 6, 2015 | Daily Update | 0 comments