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USD/CAD Open: 1.3134-1.3136 Overnight Range: 1.3126-1.3187
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $57.39 and gold is at $1,225. 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 1.3212. Support is at 1.3098.
The Canadian dollar is higher this morning. Positive progress towards a ratified trade agreement between Canada, Mexico, and the U.S., coupled with marginally higher oil prices are the primary benefactors. The market tone is tentative as market participants consider recent developments in the UK pertaining to Brexit. There are no domestic releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
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Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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