USD/CAD Open: 1.0880-1.0882 Overnight Range: 1.0874-1.0904
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $100.36 and gold is at $1,302. US futures are higher. Today, there are no major data releases.
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.
The Canadian dollar has settled after the disappointing jobs data release on Friday. The Ukraine vote has passed without much market noise. The Canadian dollar was rallying last week but the market was quickly reminded that the economy is still fragile with the disappointing jobs data. Look for the USD/CAD to settle and be rangebound this week around its current level with no major data releases.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
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