The Canadian dollar was rangebound in overnight currency
exchange markets. Oil is at $64.42 and
gold is at $1,309. US markets are higher.
There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3396. Support is at 1.3292.
The Canadian dollar is slightly
lower early in today’s session. US CPI data was better than expected but
remains slightly below the Fed mandated 2% bracket. President Trump has turned
his attention towards Europe, threatening $11B worth of tariffs on a basket of
European goods. The IMF has cited slower European growth as a reason for
downgrading its global growth projections, and additional tariffs will only
exacerbate European economic sluggishness. There are no domestic releases scheduled
Today’s Suggested Range USD/CAD: 1.3300 – 1.3400
Rahim Madhavji |
Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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