Created
: 2025.05.07
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
CAD steady just below Tuesday's multimonth high - Scotiabank
World FX news
Breaking news
CAD steady just below Tuesday's multimonth high - Scotiabank
New
2025.05.07 20:55
2025.05.07 20:55
2025.05.07 20:55
The Canadian Dollar (CAD) is soft, trading marginally lower from Tuesday's multi-month recovery high, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Near-term resistance lies above 1.3880
"The meeting between President Trump and PM Carney offered a constructive tone but no indications of an easing in trade tensions as President Trump stated that there was nothing that PM Carney could say that would convince him to lift the tariffs."
"Fundamentally, the CAD continues to trade just above its FV (USD/CAD spot trading below FV at 1.3824). Domestically, the next major risk event is the release of employment data (April) on Friday. The Bank of Canada also releases its Financial Stability Report on Thursday."
"USD/CAD's trend remains bearish as it extends its descending channel from mid-April. The slowing in momentum is notable and is delivering positive divergence, with the RSI failing to confirm Tuesday's fresh multimonth low in spot. We look to fresh support around 1.3720 and see near-term resistance above 1.3880."
Last updated
: 2025.05.07
Related articles
BoJ's Ueda: Mindful of impact of the rising food prices on underlying inflation
2025.05.08 10:36US Presi. Trump: Big news conference Thursday morning concerning a major trade deal
2025.05.08 10:18AUD/USD advances to near 0.6450, upside appears limited due to Fed cautious tone
2025.05.08 10:16PBOC sets USD/CNY reference rate at 7.2073 vs. 7.2005 previous
2025.05.08 10:15New Zealand PM Luxon: Remain confident about NZ economic recovery
2025.05.08 10:11BoJ Minutes: BoJ will raise rates if economic and price projections are realized
2025.05.08 09:42
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Gold price jumps back above $3,400 amid reviving safe-haven demand
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Thursday and rallies back above the $3,400 mark in the last hour, reversing a major part of the overnight slide from a two-week high.
New
2025.05.08 11:34BoJ's Ueda: Mindful of impact of the rising food prices on underlying inflation
Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday, he is "mindful of the impact of the rising food prices on underlying inflation."
New
2025.05.08 10:36US Presi. Trump: Big news conference Thursday morning concerning a major trade deal
US President Donald Trump announced during the Asian trading hours on Thursday of "a big news conference (Thursday) tomorrow morning at 10:00 a.m. (14 GMT) in the Oval Office. concerning a major trade deal with representatives of a big, and highly respected, country."
New
2025.05.08 10:18AUD/USD advances to near 0.6450, upside appears limited due to Fed cautious tone
The AUD/USD pair edges higher in Thursday's Asian session, trading around 0.6440 after falling over 1% in the previous session. The pair had previously touched a five-month high of 0.6514 on Wednesday, but retreated amid Federal Reserve's (Fed) cautious policy outlook.
New
2025.05.08 10:16PBOC sets USD/CNY reference rate at 7.2073 vs. 7.2005 previous
On Thursday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2073 as compared to the previous day's fix of 7.2005 and 7.2385 Reuters estimate.
New
2025.05.08 10:15New Zealand PM Luxon: Remain confident about NZ economic recovery
New Zealand's Prime Minister Christopher Luxon crossed the wires in the last hour, saying that the sharp deterioration of financial markets in early April has somewhat recovered, but markets remain volatile.
New
2025.05.08 10:11BoJ Minutes: BoJ will raise rates if economic and price projections are realized
The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook this Thursday, per the Minutes of the March 18-19 meeting.
New
2025.05.08 09:42EUR/USD continues to churn after cautious Fed disappoints markets
EUR/USD stuck to its middling ways on Wednesday, remaining entrenched near the 1.1300 handle after the Federal Reserve's (Fed) latest rate call went about as well as traders expected, albeit with a fresh batch of "wait-and-see" warnings from Fed Chair Jerome Powell.
New
2025.05.08 07:58GBP/USD backslides ahead of BoE rate call
GBP/USD fell back on Wednesday, shedding six-tenths of one percent as markets kept one foot firmly planted in the safe haven Greenback.
New
2025.05.08 07:50NZD/USD retreats as Fed signals caution and Kiwi struggles on mixed jobs data
The NZD/USD pair is pulling back from a six-month high near 0.6025 reached earlier on Wednesday, trading around 0.6000 as investors react to the Federal Reserve's (Fed) cautious policy tone and mixed economic data from New Zealand.
New
2025.05.08 07:00Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
