USD/CAD: Loonie is unlikely to fall too far at the moment – Scotiabank USDCAD Banks
underperforms after USD/CAD losses base in the low 1.36s. Nevertheless, Loonie is unlikely to suffer a substantial drop, Shaun Osborne, Chief FX Strategist at Scotiabank, reports.“Material gains in the CAD still look a struggle but I also feel that the CAD is unlikely to fall too far at the moment, with a lot of bad news already factored in.”
“While the CAD is finding it very hard to make material gains, the pattern of short-term trade since mid-March has been one of mild improvement in the CAD tone. Still, broader range trading seems likely to persist for now.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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