USD/CAD Open: 1.0919-1.0921 Overnight Range: 1.0907-1.0945
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $103.46 and gold is at $1,256. US futures are lower. Today, Canada releases housing start data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0800 and 1.0610.
USD/CAD continues to move in a tight range. With the Bank of Canada policy update and jobs data release completed last week and no real catalyst provided, the Canadian dollar should be rangebound for the most part and move directionally with risk appetite. Growth and inflation are key themes to follow.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
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