The USD/CAD briefly quoted at a level of 1.37 for the first time since October, says the head of FX strategy of ScotiabankShaun Osborne.
The trend signs are still aligned downward
“The general weakness of the USD is helping to raise the tone of the CAD, but the CAD is in the lower part of the night performance table, with a gain of only 0.25%, well below the advances observed between the main pairs in the day. The CAD can undoubted Performance differentials on the USD are still broad. “
“Both are an impediment to better CAD yield. The fair value of the USD/CAD is estimated at 1,3870 today. IntradÃa price signals indicate that a better purchase interest for the USD/CC has emerged below 1.38, but the general trend in the funds is weaker and the risk of a new lower range is growing is growing.”
“The loss of support in the area of ​​1,3950/00—The new part of the new range maybe—points to additional losses of the USD up to 1,3745/0 (76.4% setback of the USD rebound in the late 2024/early 2025). Losses could extend until the minimum of September/October in 1,3420 for a complete setback. The trend signs are still aligned downward in DMI studies in the short, medium and long term. “
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.
