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USD/CAD Open: 1.3183-1.3184 Overnight Range: 1.3140-1.3202
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $59.72 and gold is at $1,212. 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 1.3213. Support is at 1.3156.
The Canadian dollar moved lower yesterday. Complications in the finalization of the trade agreement between Canada and the US have negatively impacted CAD. Oil prices are once again lower. During yesterday’s Fed meeting, the Fed reiterated that recent stock market volatility is of little concern. The expectation is that they will once again raise rates in December. There are no releases scheduled for today’s session.
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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