The Canadian Dollar (CAD) is little changed to start the week.
The Canadian Dollar is little changed to start the week. There is no incentive to push the CAD higher at this point while yield differentials remain so favourable for the USD so stability or, more likely, more CAD softness are the only alternatives for spot trends in the short run, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD steadies while spreads remain wide “Spot is sitting close to estimated fair value today . Note that BoC rate cuts have rekindled the domestic housing market.
7% over September to reach the highest level in more than two years.” “USD/CAD is consolidating just below 1.41. Price trends remain broadly USD-bullish following last week’s strong close. There are no signs on the short– or longer-term charts that the USD rally is poised to reverse at this point and while oscillator signals are still extending deeper into overbought levels, these conditions can persist for extended periods of time.” “Minor dips will remain wellsupported. Key support is 1.
Technical Analysis Banks Canada BOC
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: Little changed on the dayThe Canadian Dollar (CAD) is trading little changed on the day, with spot ignoring the sharp drop in crude prices—rather surprisingly, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Read more »
USD/CAD: Little changed on the dayThe Canadian Dollar (CAD) is unchanged on the session, holding in the low 1.39 area just below yesterday’s high which marked a virtual pinpoint retest of the August spot peak, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Read more »
USD/CAD sticks to modest gains above 1.3900 ahead of US PCE data, Canadian GDPThe USD/CAD pair attracts fresh buying on Thursday and for now, seems to have stalled its corrective pullback from the 1.3940 area, or the highest level since August 5 touched the previous day.
Read more »
USD/CAD bounces back as Canadian Dollar weakens, US elections take center stageThe USD/CAD pair recovers half of its intraday losses after discovering significant buying interest around the key support of 1.3900.
Read more »
USD/CAD holds steady above 1.3850 as Fed cuts its rates, eyes on Canadian employment reportThe USD/CAD pair flat lines near 1.3860 during the early Asian session on Friday.
Read more »
USD/CAD climbs above 1.3900 as US Dollar bounces back, Canadian job data faltersThe USD/CAD pair jumps above the key resistance of 1.3900 in Friday’s North American session.
Read more »