The Canadian dollar (CAD) has lost some land in the day, but it is being negotiated more or less without changes in the session, the FX Chief Strategies of Scotiabank, Shaun Osborne and Eric Theoret report.
The USD/CAD is stabilizing around the upper area of 1.35
“The commercial conversations between the US and Canada are advancing – where we know – an agreement at the end of this month, so, presumably, Canada will not be one of the countries that receives a letter from President Trump. The Minister of Finance, Champagne, said he believes that Canada is in a position to negotiate a better agreement than other countries due to the magnitude of the commercial relationship between the commercial relationship between the US Canada. “
“The weakest risk feeling is an obstacle to CAD, however, and is reflected in the slightly higher equilibrium estimate for the USD/CAD (1,3560) that our model reflects this morning. Canada will publish (final) the PMIS of services and compound of Global S&P of June at 9.30et.”
“The USD/CAD is stabilizing around the upper zone of 1.35. The widest bearish trend in the spot remains intact and the impulse of the trend remains bassist for the USD in several deadlines. These factors should mean a limited bullish potential in the USD (low/medium 1.36) in the short term. The support is maintained in 1,3540 // 50.”
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.
