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: 2024.10.09
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USD/CAD: USD retains a firm undertone - Scotiabank
Breaking news
USD/CAD: USD retains a firm undertone - Scotiabank
New
2024.10.09 20:34
2024.10.09 20:34
2024.10.09 20:34
The CAD retains a soft undertone, Scotiabank's Chief FX Strategist Shaun Osborne notes.
CAD remains under pressure on soft commodities
"Spot continues to trade well above out FV estimate (1.3581 today) but variables (such as softer commodities/terms of trade) are edging against the CAD somewhat which will likely keep the CAD tone defensive for now. There are no Canadian data reports due ahead of Friday's employment report which may help settle expectations for the BoC policy at this month's meeting."
"Swaps are sitting on the 25/50 fence with 35bps priced in. Yesterday, former BoC Governor Beaudry suggested the Bank should cut 50bps at the upcoming meeting. The USD retains a firm undertone on the intraday and daily charts. The USD rise from last week's low has barely paused and looks a little stretched on the intraday studies."
"But, having pushed above the September peak and with intraday and daily DMI oscillators aligned supportively for the USD, a deeper push into the 1.36/1.38 congestion zone appears likely. Support is 1.3620."
Last updated
: 2024.10.09
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NZD/USD Price Forecast: Plunges below 0.6100 on RBNZ 50 bps rate cut
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2024.10.09 22:35Fed's Logan: There still are real upside risks to inflation
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2024.10.09 22:15EUR/USD: Weakness likely to persist below 1.10 - Scotiabank
ECB VP Villeroy said the central bank will very probably lower rates at next week's policy decision, in keeping with his and other policymakers' comments that have made a 25bps cut all but certain (and all but priced in) for the 17th, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2024.10.09 21:00Not much new from the Mexican inflation data? - Commerzbank
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2024.10.09 20:46USD/CAD: USD retains a firm undertone - Scotiabank
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2024.10.09 20:30USD retains a firm undertone - Scotiabank
The US Dollar (USD) retains a firm undertone, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2024.10.09 20:23Crude Oil finds support as market focus shifts back to supply
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2024.10.09 20:22New Zealand central bank is stepping up the pace - Commerzbank
As expected, the Reserve Bank of New Zealand (RBNZ) increased its pace of interest rate cuts this morning, this time lowering its benchmark interest rate by 50 basis points to 4.75 percent, following the surprise initial cut of 25 basis points in August, Commerzbank's FX analyst Michael Pfister notes.
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2024.10.09 20:12Disclaimer:
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