USD/CAD: There is little to stop additional gains – Scotiabank USDCAD Banks
Weak risk appetite and softer commodity prices are dragging the CAD lower. Shaun Osborne, Chief FX Strategist at Scotiabank, expects theUSD gains through the upper 1.33 area are liable to extend. A significant improvement in the market’s overall mood will be needed to lift that CAD at the moment.
The 200-DMA at 1.3453 today offers some, potential resistance to the USD advance ahead of a return to 1.35/1.36. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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