Canadian Dollar: Further gains seen against US Dollar - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret describe the Canadian Dollar (CAD) as steady despite renewed US–Canada trade tensions and targeted import bans. They highlight improving CAD fundamentals and a lower fair value estimate for USD/CAD near 1.3736.
Scotiabank analysts Shaun Osborne and Eric Theoret maintain a positive outlook for the Canadian Dollar (CAD), despite recent trade tensions between the United States and Canada. They point to improving CAD fundamentals and a lower fair value estimate for USD/CAD around 1.3736. From a technical standpoint, the analysts describe the USD as bearish, with resistance in the low/mid-1.39 range and potential for a decline towards the 1.3500/1.3550 region.
The CAD has remained relatively stable against the US Dollar on the day, showing a stoic response to the ongoing US-Canada trade disagreements.
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