The Canadian Dollar (CAD) is little changed in overnight trade. Factors driving the CAD lower this week have moderated and the USD remains quite significantly overvalued relative to my short-term equilibrium estimate (1.4280 today), Scotiabank’s Chief FX Strategist Shaun Osborne reports.
The Canadian Dollar is little changed in overnight trade. Factors driving the CAD lower this week have moderated and the USD remains quite significantly overvalued relative to my short-term equilibrium estimate , Scotiabank’s Chief FX Strategist Shaun Osborne reports.Possible cabinet reshuffle today“Canadian Retail Sales are expected to advance firmly in October which may extend the CAD a little support, if forecasts are correct.
Some reorganization is needed to relieve ministers who are pulling double or triple portfolio duty while ministers who are not running again will also be out.”“It will also represent the PM’s attempt to restore credibility with the party. The electorate might be another matter entirely.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD turns upside down on steady Canadian Retail Sales growth, US Dollar retracesThe USD/CAD pair surrenders its entire intraday gains and ticks down as the Canadian Retail Sales data grew steadily in September and the US Dollar (USD) gives up a majority of its intraday gains after refreshing a two-year high.
Read more »
USD/CAD drops even though US Dollar rebounds, Canadian Q3 GDP in focusThe USD/CAD pair falls to near the psychological support of 1.4000 in European trading hours on Thursday despite a decent recovery move in the US Dollar (USD).
Read more »
USD/CAD Soars to Fresh Four-Year High as Canadian Dollar Weakening IntensifiesThe USD/CAD exchange rate surged to a more than four-year high near 1.4330 on Wednesday, fueled by the Canadian Dollar's decline amidst growing concerns of inflation falling short of the Bank of Canada's 2% target. The rally was triggered by softer-than-anticipated Canadian CPI data for November, raising expectations of further interest rate cuts by the BoC.
Read more »
CAD steady but trade tensions weighThere is no relenting in the still developing pressure on the Canadian Dollar (CAD).
Read more »
USD/CAD: Markets mull tariff threatSpot is little changed on the day as the Canadian Dollar (CAD) consolidates.
Read more »
USD/CAD: Short-term trend momentum weaken to near neutral levelsThe Canadian Dollar (CAD) is little changed on the session.
Read more »