The CAD is entering Tuesday’s na session without changes against the USD, its range is closely limited within a marginally marginally bullish trend channel (bassist for the USD/CAD) since mid -April, says Shaun Osborne, head of Strategy of FX of Scotiabank.
The CAD is consolidating before the Trump/Carney meeting
“The approach is in international relations and the first meeting between the newly elected PM Carney and President Trump in DC. The balance of risks is probably inclined downward, given the recent impulse of CAD strength and the potential for disappointment after an impressive recovery of the CAD driven by hope of reconciliation. In terms of data, Canada will publish its international trade figures at 8:30 am. They are for the month of March and will represent the state of commerce before the announcement of US tariffs at the beginning of April. “
“The Canadian deficit is expected to have been modestly expanded. The USD/CAD estimation of the USD/CAD remains just below 1,3900, slightly above the current levels in the market in cash, which suggests a certain strength of the CAD in relation to our evaluation of its foundations. Our weekly report of the feeling of the CFTC published yesterday stressed that the CAD remains the largest in short reported currencies, leaving the bassists of the body vulnerable to adjustments and closing positions in case of continuous recovery. “
“The recent trend in the USD/CAD is slightly bassist. The rhythm of the fall has been such that it represents a slowdown in the impulse and, therefore, is delivering a positive divergence, with the RSI without confirming the new minimums in the market in cash. We look for short -term support below 1,3780 and we see the possibility of greater support around 1,3750 in case of a break. range of 1,3880-1.3900. “
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.
