The bouncing of the Canadian dollar (CAD) vanished below 1.43 yesterday, says FX Strategy Head of Scotiabank, Shaun Osborne.
Unlikely there is a recovery of the CAD before the rate update of April 2
“A slightly firmer USD before the Fed has contributed to the increase in funds today, but investors will be reluctant to raise the CAD too much before having more clarity about the tariff risks faced by Canada. The USD still seems overvalued in relation to the tariff actions that have been implemented – and what could still arise.”
“But it is unlikely that there is a significant recovery in the CAD before the rate update of April 2 and, even then, the wide short -term rates differentials really need to narrow significantly to boost the CAD in a sustainable way up.”
“A firm rebound from yesterday’s intradication around 1,4270 established a short -term bunder reversion signal in the 6 -hour graph (outside the highest range). The rebound coincided with the trend support test for the USD from the minimum of September. The USD/CAD profits can be extended to the 1,4350/80 zone in the short term. A breakdown above 1.43 superior The way for a return to low levels/media of 1.44.
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.