The Canadian Dollar (CAD) remains unchanged in the session. A slightly positive risk appetite is a modest plus for the CAD, as are decent session gains for crude oil (up 1%), notes Shaun Osborne, Chief FX Strategist at Scotiabank.
CAD maintains range
“The CAD remains more dependent on yield spreads and the still significant USD interest rate premium across the curve, a situation that is unlikely to change in the near term. The threat of tariffs looming over the CAD adds downside risks to CAD in the coming months. The fair spot value is currently estimated at 1.4062, suggesting that CAD is right where it should be.”
“Spot value is approximately halfway between the recent price extremes (1.3930/1.4180) and appears relatively flat on the short-term chart. Trend momentum signals continue to favor USD appreciation, which means that USD should remain well supported on dips for now. Support is 1.3990/00 and 1.3930/50 and resistance is 1.4090/00. 1.4175/80.”
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.
