The Canadian dollar (CAD) is almost unchanged on the session, notes Shaun Osborne, chief FX strategist at Scotiabank.
A possible reversal signal on the chart
“The spot market has entered a sideways consolidation range after the elevated volatility in the spot market at the start of the week. Those moves have perhaps discouraged the markets from putting much more pressure on the CAD for now, at least until There is more clarity on tariff threats. November retail sales in Canada are expected to rise 0.2% on the month. That’s slightly better than the flat preliminary reading for November sales that Statcan provided with October data. “
“While USD/CAD is essentially moving sideways, the spot market is forming a widened sideways range around 1.44 after its recovery in late 2024. This type of pattern is usually associated with higher market volatility, participation and emotion and typically develops around major market highs. That seems to be the case here.”
“On top of that, the spot market break below the three-month trend support and price action setting up negatively for the USD on the weekly chart adds up to some pretty clear negative developments for the USD on charts. Support is 1.4260/80. Resistance is 1.4480/00.”
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.