USD/CAD Open: 1.3312-1.3313 Overnight Range: 1.3244-1.3319
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3356. Support is at 1.3241.
The Canadian dollar is lower this morning, underperforming the majority of its G10 peers. Renewed concerns surrounding trade between the US and China coupled with the uncertain fate of Brexits have markets trading conservatively. WTI continues to hover around its 50-day moving average. There are no major domestic releases scheduled ahead of tomorrow’s CPI data.
Today’s Suggested Range USD/CAD: 1.3250 – 1.3350
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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