USD/CAD Open: 1.0915-1.0917 Overnight Range: 1.0898-1.0930
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $99.53 and gold is at $1,288. US futures are lower. Today, the US releases weekly jobless claims.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0990. Support is at 1.0725.
US wages are increasing. Weekly jobless claims were below expectations. US GDP data yesterday was better than expected and showed the US economy is picking up strongly, while the Canadian economy just doesn’t seem as strong. The US dollar has broad based support. Month-end could create some volatility today.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
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