USD/CAD Open: 1.0120-1.0122 Overnight Range: 1.0094-1.0127
The Canadian dollar was rangebound in overnight trading. Oil is at $92.05 and gold is at $1,536. NY futures are lower. Today, US retail sales are released.
The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0225, 1.0350 and 1.0450. Support is at 1.0050, and 1.0010.
US retail sales released today were sharply below expectations. This has taken the wind out of the sails of equity markets. Cyprus is also reported to be seeking more money. The USD has gained strength with recent negative headlines.
Today’s Suggested Range USD/CAD: 1.0050 – 1.0150
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