USD/CAD Open: 1.3121-1.3122 Overnight Range: 1.3096-1.3131
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $63.12 and gold is at $1,235. 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 1.3128. Support is at 1.3058.
CAD is little changed early in today’s session. Mid-term elections are taking place in the US today. In yesterday’s speech, Bank of Canada Govenor Poloz reiterated that he believes the current pace of monetary tightening is appropriate. He was non-committal in regard to future tightening policy. Additional talks between the US and China are scheduled for the end of the week. There are no domestic releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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