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USD/CAD Open: 1.3187-1.3188 Overnight Range: 1.3163-1.3200
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $68.76 and gold is at $1,209. 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 1.3209. Support is at 1.3163.
The Canadian dollar is trading narrowly, consolidating losses from earlier in the week. CAD is trading slightly above Tuesday’s seven week low against the USD. Wednesday’s Bank of Canada statement was more cautious than expected, as officials expressed concerns over NAFTA discussions. There are no significant domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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