USDCAD Open 1.0651-56 Overnight Range 1.0639-1.0660
Original post on Saxo Bank’s Trading Floor
The USDCAD chopped around in a narrow range to start the week. The AUDUSD got an early bid on a larger than expected China trade surplus but the details weren’t so wonderful and it gave back its gains, Fed speakers today and a lack of top tier data until Thursday suggest that choppy consolidation of Friday’s FX moves will be the day’s theme. Gold is at $1,229.50 and WTI oil is at $97.50/bbl.
The intraday USDCAD technicals are bearish while trading below 1.0665 with a break of 1.0620 pointing to deeper losses to 1.0570. Above 1.0665 targets 1.0710
Today’s Range 1.0635-65