Canadian Dollar USD/CAD FX Morning Update November 6, 2014
USD/CAD Open: 1.1415-1.1417 Overnight Range: 1.1378-1.1427
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $77.62 and gold is at $1,143. US futures are higher. Today, US weekly jobless claims are released.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
As expected the ECB left interest rates unchanged. Oil prices remain weak. The impact of falling oil prices on Canada’s economy is impacting the Canadian dollar. All eyes are on jobs data that will be released tomorrow and this data could definitely create some volatility.
Today’s Suggested Range USD/CAD: 1.1370 – 1.1470
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 6, 2014 | Daily Update |
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