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USD/CAD: Range trading is weakening the downside momentum

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USD/CAD edges up to test 1.35. Economists at Scotiabank analyze the pair’s outlook. Weak risk appetite and some further drift in crude oil prices are

Weak risk appetite and some further drift in crude oil prices are headwinds for the CAD, in addition to the general strength in the USD.

The CAD has lost a little of the technical initiative that seemed to be developing on the charts as range trading is weakening the downside momentum behind the USD that had been developing over the past few sessions.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

 

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