USD/CAD Open: 1.3334-1.3335 Overnight Range: 1.3332-1.3371
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.71 and gold is at $1,308. 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 1.3378. Support is at 1.3300.
The Canadian dollar is extending its recovery, following an improvement in oil prices. There are no risk events scheduled ahead of Thursday’s speech from BoC Senior Deputy Governor Wilkins. The Brexit saga is ongoing, with a vote scheduled for today on whether to leave the European Union without an agreement. In the unlikely scenario where the vote passes, the USD will serve as a safe haven, and the GBP would be expected to nosedive. There are no releases scheduled for today.
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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