USD/CAD Open: 1.3229-1.3230 Overnight Range: 1.3209-1.3249
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $56.53 and gold is at $1,213. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3254. Support is at 1.3203.
The Canadian dollar remains under pressure. Materially lower oil prices over the last week have provided a headwind. Additional questions have been raised pertinent to the trade agreement between Canada, Mexico, and the United States before its officially ratified. Additional uncertainty surrounding trade have hurt US equity markets, which are once again lower. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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