USD/CAD Open: 1.1058-1.1060 March 18, 2014

USD/CAD Open: 1.1058-1.1060 Overnight Range: 1.1020-1.1071

The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $98.34 and gold is at $1,352. US futures are higher. Today, the US releases housing start and consumer price data.

The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.

Russia has taken another step towards annexing Crimea, ignoring sanctions from the West. German investor confidence data reported overnight was worse than expected and is creating some risk aversion. Poloz delivers a speech today. The Canadian dollar remains rangebound for the most part between 1.09 and 1.12, looking for direction.

Today’s Suggested Range USD/CAD: 1.1000 – 1.1099

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 | March 18, 2014 | Daily Update | 0 comments