USD/CAD Open: 1.1282-1.1284 Overnight Range: 1.1275-1.1385
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $81.66 and gold is at $1,236. US futures are negative. Today, the US releases Empire State Mfg., retail sales, and producer price data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1280. Support is at 1.0925.
Negative data out of the US is impacting equity markets. Empire state manufacturing data and retail sales data were both weaker than expected. US yields continue to decline. Oil prices continue to remain weak as well. The Canadian dollar is being impacted by global growth concerns and weak commodity prices.
Today’s Suggested Range USD/CAD: 1.1200 – 1.1299
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