Canadian dollar (CAD)

Canada's dollar declined against the U.S Dollar due to statements from the Bank of Canada's governor, Mark Carney. He stated that the strength of the currency is becoming a problem to economic expansion, meaning that he is encouraging the Loonie to weaken. The GDP expanded at the fastest rate in eight months, rising by 0.4% instead of the forecast of 0.2%. The Canadian is struggling between the bank governor's statements and the high price of crude oil. Overall, USD/CAD traded with a low of 0.9860 and with a high of 1.0035. No economic data is expected today.

USD/CAD - Last: 0.9983

Resistance

0.9995

1.0005

1.0050

Support

0.9970

0.9950

0.9930

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