Morning Commentary & Currency Insights – March 29, 2018

The overnight session was very similar to the previous day’s trading with tight ranges and little activity to speak of.  Canadian GDP is the only data due out today at 8:30 AM EST where a print of 0.1% is anticipated matching the previous month’s reading.  The S&P is still down for the month so rebalancing of portfolio holdings is still likely to promote U.S. dollar buying.  As mentioned previously a breach of 1.2950 in USD/CAD is needed to see another push towards 1.3100 while a break below 1.2800 will accelerate downward momentum.