US Dollar Currency Exchange Morning Update September 11, 2014
USD/CAD Open: 1.0997-1.0999 Overnight Range: 1.0932-1.1022
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $90.83 and gold is at $1,246. US futures are lower. Today, the US releases weekly jobless claims.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1005. Support is at 1.0725.
US weekly jobless claims were weaker than expected. Headlines of the FED leaning towards hiking rates sooner rather than later are supporting US dollar strength. Oil prices are lower and near the $90/bbl level. Weakness in Chinese growth expectations is impacting the commodity market. The US dollar seems to have broad based strength.
Today’s Suggested Range USD/CAD: 1.0950 – 1.1050
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 11, 2014 | Daily Update | 0 comments