USD/CAD: Loonie to continue outperforming, thanks to a resilient economy and a hawkish BoC – Scotiabank USDCAD Canada BOC Oil Banks
has fared better than its peers throughout the year and is again somewhat of an outperformer in recent trading. Economists at Scotiabank expect the CAD to continue outperforming. “We expect the loonie to continue outperforming, thanks to the support of a resilient economy and a hawkish central bank.”should continue to buttress the CAD.”
“We note strong USD selling interest above the 1.30 level through the 1.3075/85 zone that has been consistent in capping USD gains in the past few months. We expect that interest to remain a presence in the market. Technically, USD gains through 1.31 open the door for additional USD strength to the 1.33 area, however.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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.
Cal product Korey Lee has day to remember as Astros beat AthleticsThe A’s continued to struggle offensively and fell to Houston and former Cal star Korey Lee.
Read more »
USD/CAD declines towards 1.2900 as investors await BOC and US InflationThe USD/CAD pair is auctioning below the critical support of 1.2960 as investors are supporting loonie against the greenback on upbeat Canada’s Unempl
Read more »
USD/CAD steadies around 1.3000 despite softer oil, recession woes, focus on BOCUSD/CAD seesaws around 1.3000 psychological magnet after rising the most in a week as buyers struggle for fresh directions during Tuesday’s Asian sess
Read more »
Athletics’ pitcher Paul Blackburn selected to 2022 All-Star GameA’s right-hander Paul Blackburn has a 6-4 record and 3.36 earned run average.
Read more »
USD/CAD rallies further beyond mid-137.00s, fresh 24-year high and countingThe USD/JPY pair added to its strong intraday gains and rallied further beyond the mid-137.00s, to a fresh 24-year high during the early North America
Read more »
Global growth concerns continue to boost appeal of USD – MUFGThe US dollar has continued to strengthen during the Asian trading session. In the view of economists at MUFG Bank, the case for a stronger USD remain
Read more »