{
  "id": 15790183,
  "title": "Canadian Dollar: CAD gains against US Dollar on BoC bets – Scotiabank",
  "url": "https://urgent.news/2026/10/20/canadian-dollar-cad-gains-against-us-dollar-on-boc-bets-scotiabank",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T17:35:00.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/canadian-dollar-cad-gains-against-us-dollar-on-boc-bets-scotiabank-202610201735"
  },
  "original_language": "en",
  "account": "Scotiabank strategists Shaun Osborne and Eric Theoret note that USD/CAD is trading close to 1.4054, bolstered by Alberta's decisive 76% rejection of separation from Canada and surging oil prices. Although Canadian inflation fell short of forecasts, Bank of Canada Governor Macklem's recent remarks about energy-related inflation risks have investors anticipating a possible rate hike at the upcoming policy meeting. Scotiabank anticipates a 25 basis point increase, with swap prices around 20 basis points of tightening. Alberta's voting results reflect a strong margin of victory, which could help reassure any lingering sovereignty apprehensions among separatists. Although Canadian inflation data missed expectations, headline inflation showed a slight uptick, while core measures remained subdued. Still, Macklem's comments have market participants pricing a higher likelihood of a rate increase next week. The CAD's technical conditions are improving, with spot price nearing a minor new cycle low and USD losses extending below 1.41, bringing the 50% retracement of the USD's September rally to 1.4030. The 40- and 100-day moving averages converge near 1.4045, and a break below this level may signal that CAD gains could continue, potentially reaching the mid-1.39s. Intraday resistance forms at 1.4070, with 1.4115 as a potential hurdle for a stronger rebound in USD.",
  "summary": "Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD trading near 1.4054, with the Canadian Dollar (CAD) supported by Alberta’s strong rejection of separation and higher Oil prices.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Canadian Dollar: BoC rate hike bets seen as excessive - Standard Chartered",
        "url": "https://urgent.news/2026/10/20/canadian-dollar-boc-rate-hike-bets-seen-as-excessive-standard",
        "published": "2026-10-20T12:44:53.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Canadian dollar outlook: oil prices and Fed signals drive the loonie",
        "url": "https://urgent.news/2026/10/20/canadian-dollar-outlook-oil-prices-and-fed-signals-drive-the-loonie",
        "published": "2026-10-20T19:37:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}