The Canadian dollar (CAD) is negotiated slightly in front of the US dollar (USD) in a relatively quiet trade, says the head of FX de Scotiabank, Shaun Osborne.
Strongest body in the session
“CAD profits are lagging with those of most of their main currency even, since the spot is maintained within its recent negotiation range. Federal elections are coming, but they may not have much impact on the feeling of the CAD in the short term. The most immediate approach is in the US commercial policy fair (1,3892 currently). “
“The spot is being negotiated a little lower in the session so far, but it is maintained within the consolidation range that has been developed so far this week. After reaching a peak around the ceiling of the range about 1.39 yesterday, the CAD could approach the base of the range (1,3805/10) towards the end of the week.”
“The loss of support in the low 1.38 would again raise the low -term bassist impulse for a major (setback) support test in 1,3745.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
