USD/CAD Open: 1.1102-1.1104 Overnight Range: 1.1064-1.1111
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $91.63 and gold is at $1,219. US futures are lower. Today, the US releases new home sales data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1120. Support is at 1.0850.
Global growth and interest rate policy are the key themes driving the US dollar and Canadian dollar. Broad based US dollar strength and soft commodity prices have been hurting the Canadian dollar. For the Canadian dollar to rally, economic data will need to outperform along with rising inflation and some commentary from the BoC on changing interest rate policy – it doesn’t feel like this is going to happen soon.
Today’s Suggested Range USD/CAD: 1.1050 – 1.1150
Don't Waste Money With Banks.
Get Exchange Rates Up to 2% Better With KnightsbridgeFX
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.
We are built to beat bank exchange rates and save you money
KnightsbridgeFx is registered with FINTRAC, under the MSB registration number M09819788. Like most financial institutions, we are required to validate the identity of all clients. We have strict measures in place to protect your privacy.
Our Offices
Main office (Appointment only)
First Canadian Place
100 King Street West
Suite 5700 Toronto, ON,
M5X 1C7
(416) 479-0834
Toll-Free: 1-877-355-5239
Fax: 1-877-355-5239
All rights reserved. Knightsbridge Foreign Exchange
Currency Exchange Canada.
