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USD/CAD Open: 1.3183-1.3184 Overnight Range: 1.3141-1.3197
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $55.87 and gold is at $1,221. 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 1.3199. Support is at 1.3139.
The Canadian dollar has begun to consolidate once again. Oil prices appear to have found stability around recent levels. Bank of Canada rate expectations are recovering. The domestic calendar is busy this week, as there will be several public appearances from Bank of Canada personnel, with retail sales and CPI data slated for Friday. There are no domestic releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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