USD/CAD Open: 1.3223-1.3224 Overnight Range: 1.3213-1.3245
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $54.56 and gold is at $1,229. US markets are mixed. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3236. Support is at 1.3209.
CAD gained some ground during yesterday’s session, as stock markets and oil prices recovered. US officials continue to engage in trade discussions with China. The Canadian dollar reacted favorably to yesterday’s speech from Finance Minister Morneau. Trading activity will be light today, as it is a holiday in the United States. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
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