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USD/CAD Open: 1.3216-1.3217 Overnight Range: 1.3155-1.3219
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $56.00 and gold is at $1,226. US markets are lower. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral. For today, USD resistance is at 1.3241. Support is at 1.3178.
The Canadian dollar has moved lower early in today’s session, as trade tensions weigh on CAD. North American equities were sharply lower yesterday. Western Canada Select remains under pressure. The next domestic rate hike is expected to take place either at the December or January Bank of Canada meeting. Outside of speaking engagements from BoC personnel, there are no domestic data releases scheduled for today.
Today’s Suggested Range USD/CAD: 1.3150 – 1.3250
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Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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