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USD/CAD Open: 1.3064-1.3065 Overnight Range: 1.2989-1.3080
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $67.55 and gold is at $1,197. US markets are mixed. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are bearish. For today, USD resistance is at 1.3106. Support is at 1.3007.
The Canadian dollar is weaker this morning, a mid-performer amidst an environment of broad-based USD strength. Trade talk has once again moved to the forefront, as new tariffs between the US and China are imposed. Oil prices have been volatile of late, but are higher today. There are no major domestic releases scheduled for the remainder of the week.
Today’s Suggested Range USD/CAD: 1.3000 – 1.3100
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Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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