Created
: 2025.09.02
2025.09.02 20:33
The Canadian Dollar (CAD) is softer against the generally stronger US Dollar (USD) on the session but losses are relatively limited, leaving the CAD the top-performer after the big dollar among G10 currencies, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
"That provides the CAD with a little further relief on the crosses after EURCAD's push to it is highest since 2009 late last month. Weaker US bond markets may put a little pressure on the recent narrowing in US/Canada yield spreads while weaker global risk appetite will help keep the CAD tone defensive versus the USD for now."
"Despite positive developments on the charts for the CAD recently--USD/CAD's bearish outside range reversal pattern (from August 22nd) and losses through minor trend support off the July 23rd low last week, the CAD has found it hard to sustain gains through the 40-day MA (1.3774)."
"Trend strength oscillators are neutral on the daily and weekly charts, which may make for choppy trading, albeit with a developing downward bias. Support is 1.3575 (July 23rd low) and 1.3540 (mid -June low). Resistance is 1.3785/1.3815 and 1.3880/90."
Created
: 2025.09.02
Last updated
: 2025.09.02
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.
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].
Disclaimer:
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