The Canadian dollar (CAD) continues to operate in rank, inform the main strategists of Scotiabank, Shaun Osborne and Eric Theoret.
The body maintains the range after the CPI that suggests that the BOC will remain waiting
“A slight increase in Canadian inflation yesterday helps maintain the perspective that the Boc policy is kept waiting for the moment, and possibly for some time. The PM Carney commented yesterday that negotiations with the US will intensify, but seemed to grant that tariffs will probably remain part of the panorama for Canada, since ‘the commercial panorama at the global level has changed.’
“Although the differentials between the US and Canada have narrowed a bit this week, the prices of raw materials/the terms of exchange have weakened something. Together with the wider rebound in the USD, the factors that drive the CAD have moved a little against the CAD, raising our estimation of value just to 1,3626.”
“The spot is firm, near the top of the recent negotiation range, but short -term pricing trends remain quite flat and the USD still has some work to do to flex more sustainably. The resistance of the USD is 1,3740/50 and, firmer, in 1,3800/10. The support is 1,3650/70.”
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.
