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CAD holds range ahead of BoC Business Outlook Survey - Scotiabank
World FX news
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CAD holds range ahead of BoC Business Outlook Survey - Scotiabank
New
2025.04.07 22:20
2025.04.07 22:20
2025.04.07 22:20
The Canadian Dollar (CAD) is remarkably stable considering the carnage playing out in stocks. Spot has held a tight range close to Friday's closing level throughout Asian and European trade. Heightened stock volatility is playing into the CAD's fair value estimate more obviously now, with equilibrium moving back up to 1.4133 today, Scotiabank's Chief FX Strategist Shaun Osborne notes.
CAD little changed on the day
"That still leaves the CAD trading a bit cheap but the deviation from the equilibrium estimate has been falling over the past week. The BoC's Q1 Business Outlook Survey is likely to make for soft reading today as businesses mull the implications of US tariffs. Soft jobs data Friday added to near-term BoC easing expectations but the Bank may need more time to consider growth/inflation risks before deciding on whether to cut."
"USD/CAD price action was neutral Friday as the USD formed an inside range pattern. Intraday price trends remain neutral but a weak downtrend in the USD continues to develop, with the intraday and daily DMIs tilting USD-bearish for the first time since September. Spot gains appear to be stalling around 1.4270, ahead of key resistance at 1.4400/20. Support is 1.4025/30 and (major) 1.3940/50."
Last updated
: 2025.04.07
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US ADP private sector employment rises 62,000 in April vs. 108,000 expected
Private sector employment in the US rose 62,000 in April and annual paw was up 4.5% year-over-year, the Automatic Data Processing (ADP) reported on Wednesday.
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2025.04.30 21:21Germany annual CPI inflation declines to 2.1% in April
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2025.04.30 21:03JPY is underperforming on data disappointment - Scotiabank
Japanese Yen (JPY) is weak, down 0.5% against the US Dollar (USD) and underperforming all the G10 currencies on the back of weaker than expected industrial production and retail sales data, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.04.30 20:57GBP soft in quiet trade, consolidating recent rally - Scotiabank
Pound Sterling (GBP) is soft, down 0.3% against the US Dollar (USD) and underperforming most G10 currencies in quiet, mixed trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.04.30 20:55CAD holds trading range - Scotiabank
April has been good for the Canadian Dollar (CAD) (it's strongest month against the US Dollar (USD) since 2019) but spot continues to range trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.04.30 20:50USD consolidates ahead of GDP - Scotiabank
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2025.04.30 20:48EUR marginally weaker - Scotiabank
GDP surprises to upside and German state-level CPI data are strong
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The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, edges slightly higher and trades at 99.40 at the time of writing on Wednesday.
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2025.04.30 20:13AUD/USD consolidates around 0.6400 as investors await key US data
The AUD/USD pair trades slightly higher near 0.6400 during European trading hours on Wednesday. The Aussie pair ticks higher as the US Dollar (USD) gains ahead of a string of United States (US) economic data, notably Q1 Gross Domestic Product (GDP), releasing in the North American session.
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2025.04.30 19:56CNY: Some early soft spots - Commerzbank
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2025.04.30 19:22Disclaimer:
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