Canadian dollar (CAD)

Canada's dollar declined against its U.S counterpart the most in almost three month. This is likely due to the Bank of Canada's governor, Mark Carney, saying that the strength of the currency is a problem for economic expansion. The pair could remain bearish because the U.S Dollar is considered as a safety island in times of crises. Today the GDP is expected to be release and the forecast is expected to be unchanged from its previous outcome of 0.2%. Overall, USD/CAD traded with a low of 0.9860 and with a high of 1.0035.

USD/CAD - Last: 1.0005

Resistance

1.0010

1.0025

Support

1.0000

0.9960

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