Canadian Dollar strengthens mildly as polls suggest that Justin Trudeau’s Liberal Party is on track to a narrow win over Conservatives in federal elections. CBC News projects that the Liberals would take over 140 seats and less than 120 for Conservatives. Though, as 170 seats are needed to take majority in the 33-8 House of Commons, Trudeau’s minority government will need to seek support from left-leaning opposition parties.
CAD/JPY edges higher today and it’s now eyeing 83.23 resistance. Sustained break there should confirm completion of the corrective pull back from 85.23 at 78.50. Rebound from 76.61 low should then be ready to resume through 85.23 resistance.
