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Daily Update

Updates on the latest happenings surrounding the Canadian dollar, other USD/CAD-related news, and useful currency exchange tools including our currency converter.

canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 24, 2023 – Canadian dollar tumbling

USD/CAD Open: 1.3574-78, Overnight Range: 1.3529-1.3602,  Previous Close: 1.3549 WTI Oil open at $76.01 and gold open at $1,822.46. US markets are lower today. For today, USD resistance is at 1.3682. Support is at 1.3605.   Geopolitics and US rate outlook fuels US dollar demand US Core PCE data and Michigan Consumer Sentiment in focus […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 23, 2023 – Canadian dollar rebounds off of support

USD/CAD Open: 1.3529-33, Overnight Range: 1.3520-1.3551,  Previous Close: 1.3552 WTI Oil open at $74.63 and gold open at $1,826.86. US markets are higher today. For today, USD resistance is at 1.3582. Support is at 1.3548.   Hawkish FOMC minutes to stale to matter S&P 500 futures trading higher suggesting positive open on Wall Street US […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 22, 2023 – Canadian dollar consolidating losses

USD/CAD Open: 1.3554-58, Overnight Range: 1.3529-1.3559,  Previous Close: 1.3537 WTI Oil open at $75.48 and gold open at $1,833.50. US markets are lower today. For today, USD resistance is at 1.3626. Support is at 1.3494.   Loonie continues to suffer from cooler CPI data RBNZ raises rates by 50 bps US dollar opens on mixed […]

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Canadian Dollar Update, February 17, 2023 – Canadian dollar falls through support

USD/CAD Open: 1.3516-20, Overnight Range: 1.3454-1.3536,  Previous Close: 1.3457 WTI Oil open at $76.48 and gold open at $1,823.11. US markets are mixed today. For today, USD resistance is at 1.3492. Support is at 1.3460.   Fed officials calling for 50 bp hikes sour risk sentiment Equities extend losses as Treasury yields rise US dollar […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 16, 2023 – Canadian dollar in a rut

USD/CAD Open: 1.3383-87, Overnight Range: 1.3360-1.3406,  Previous Close: 1.3394 WTI Oil open at $78.60 and gold open at $1,838.32. US markets are lower today. For today, USD resistance is at 1.3442. Support is at 1.3414.   Global markets are mildly risk positive BoC Governor Tiff Macklem House of Commons testimony today US recoups opens mixed; […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 15, 2023 – Canadian dollar gets dumped on Valentines Day

USD/CAD Open: 1.3400-04, Overnight Range: 1.3336-1.3404,  Previous Close: 1.3337 WTI Oil open at $78.29 and gold open at $1,835.59. US markets are mixed today. For today, USD resistance is at 1.3457. Support is at 1.3344.   US CPI kicks off another round of US dollar buying. Global risk sentiment sours on higher Fed rate fears […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 14, 2023 – Canadian dollar is everyone’s sweetheart

USD/CAD Open: 1.3342-46, Overnight Range: 1.3330-1.3352,  Previous Close: 1.3331 WTI Oil open at $78.93 and gold open at $1,859.63. US markets are mixed today. For today, USD resistance is at 1.3380. Support is at 1.3318.   Loonie probing major resistance area US dollar on the defensive ahead of January inflation data US dollar modestly lower […]

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Canadian Dollar Update, February 10, 2023 – Canadian dollar awaiting Labour Force Survey

USD/CAD Open: 1.3437-41, Overnight Range: 1.3416-1.3470,  Previous Close: 1.3455 WTI Oil open at $79.57 and gold open at $1,863.45. US markets are mixed today. For today, USD resistance is at 1.3363. Support is at 1.3328.   Canada expected to gain of 15,000 jobs Russia announces oil production cut US dollar opens mixed, and CAD outperforms […]

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canadian dollar update - knightsbridge fx

Canadian Dollar Update, February 8, 2023 – Canadian dollar gains with S&P 500 bounce

USD/CAD Open: 1.3374-78, Overnight Range: 1.3362-1.3406,  Previous Close: 1.3398 WTI Oil open at $77.95 and gold open at $1,880.74. US markets are lower today. For today, USD resistance is at 1.3458. Support is at 1.3406.   Traders dismiss Powell’s interest rate outlook BoC Governor Macklem reconfirms rate hike pause US dollar opens lower against G-10 […]

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canadian dollar update - knightsbridgefx

Canadian Dollar Update, February 7, 2023 – Canadian dollar awaiting Powell and Macklem speeches

USD/CAD Open: 1.3419-23, Overnight Range: 1.3403-1.3446,  Previous Close: 1.3447 WTI Oil open at $75.65 and gold open at $1,872.10. US markets are higher today. For today, USD resistance is at 1.3445. Support is at 1.3368.   Markets are cautious ahead of Fed Chair Powell speech President Biden gives State of the Union address tonight US […]

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