Select Language

CAD flat and outperforming on crosses - Scotiabank

Breaking news

CAD flat and outperforming on crosses - Scotiabank

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.10.08 20:57
CAD flat and outperforming on crosses - Scotiabank

update 2025.10.08 20:57

The Canadian Dollar (CAD) is trading flat from Tuesday's close and extending its recent consolidation around a cluster of key technical levels, a relative performer against all of the G10 currencies in an environment of broad-based US Dollar (USD) strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

CAD is being buoyed by trade hopes

"The Trump/Carney meeting appears to be buoying the CAD, in terms of sentiment, offering positive signals as Canada and the US work toward a trade deal with hopes of easing sectoral tariffs. Canada's fiscal situation remains a concern following Monday's announcement, with a focus on the budget scheduled for release on November 4th."

"BoC risk is also elevated, as we look to Thursday's speech from SDG Rogers and consider the possibility of a pushback to the market's dovish pricing. The outlook for relative central bank policy was a key driver of weakness through much of Q3 however we see scope for possible strength in the event of a shift in policymakers' cautiously dovish tone. Our FV estimate for USD/CAD is currently at 1.3734."

"The RSI has stalled in the low 60s, implying only modestly bullish momentum. USD/CAD's recent gains have faltered around a cluster of key technical levels, most importantly the 61.8% retracement of the September 2024/February 2025 rally at 1.3944. The 200 day MA (1.3980) has offered additional resistance, just below the psychologically important 1.40 level. We look to a near-term range bound between 1.3920 support and 1.3980 resistance."


Date

Created

 : 2025.10.08

Update

Last updated

 : 2025.10.08

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

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

Fed Minutes to shed light on rate cut path amid ongoing government shutdown

The Minutes of the United States (US) Federal Reserve's (Fed) September 16-17 monetary policy meeting will be published on Wednesday at 18:00 GMT.
New
update2025.10.08 22:15

Gold's record run stretches further above $4,000, traders eye Fed Meeting Minutes

Gold (XAU/USD) marks another milestone on Wednesday, smashing through the $4,000 level for the first time as investors flock to the precious metal amid global economic and political uncertainty, coupled with a dovish Federal Reserve (Fed) outlook.
New
update2025.10.08 21:34

USD/CNH is likely to edge higher - UOB Group

US Dollar (USD) is likely to edge higher, potentially breaking above 7.1550. In the longer run, the price action suggests that USD could rise toward 7.1650, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.10.08 21:18

USD/JPY: Further USD strength is likely - UOB Group

Impulsive momentum is likely to outweigh overbought conditions, but it remains to be seen if US Dollar (USD) can break above 153.00. In the longer run, further USD strength is likely; the level to watch is 153.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.10.08 21:15

NZD/USD: Next support at 0.5690 is unlikely to come into view - UOB Group

Scope for New Zealand Dollar (NZD) to test 0.5720; the next support at 0.5690 is unlikely to come into view. In the longer run, outlook for NZD has shifted to negative; the level to watch is 0.5690, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.10.08 21:13

EUR trading defensively on weaker German IP - Scotiabank

The Euro (EUR) is soft, down 0.3% against the US Dollar (USD) on the back of a weaker than expected industrial production release from Germany, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.08 21:03

AUD/USD: Likely to head lower and test the 0.6555 support level - UOB Group

Increasing downward momentum suggests Australian Dollar (AUD) is likely to head lower and test the 0.6555 support level. In the longer run, the odds of AUD breaking below 0.6555 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.10.08 20:59

CAD flat and outperforming on crosses - Scotiabank

The Canadian Dollar (CAD) is trading flat from Tuesday's close and extending its recent consolidation around a cluster of key technical levels, a relative performer against all of the G10 currencies in an environment of broad-based US Dollar (USD) strength, Scotiabank's Chief FX Strategists Shaun Os
New
update2025.10.08 20:56

GBP/USD: Might drop to 1.3385 before recoverin - UOB Group

Pound Sterling (GBP) could drop to 1.3385 before recovering; the major support at 1.3325 is not expected to come into view.
New
update2025.10.08 20:51

NZD tumbles on surprise 50bpt rate cut - Scotiabank

The US Dollar's (USD) gains are extending into Wednesday's NA session with broad strength against all of the G10 currencies. NZD is underperforming, down 0.6% on the back of an unexpectedly large RBNZ rate cut, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.08 20:48

Disclaimer:arw

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.

  • Facebook
  • Twitter
  • LINE

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

I agree
share
Share
Cancel