External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

FX & Rates

<ul><li>While the Bank of Canada’s 1/2 point rate cut Wednesday predictably left the CAD under pressure, the currency has outperformed many of its major currency peers on the week overall, suggesting broader USD strength as much as lower domestic interest rates account for USDCAD’s push to Thursday’s peak just under 1.3870.</li><li>The CAD has steadied today but scope for gains remains limited. Fundamental fair value sits at 1.3857 and the correlation screen highlights spreads as the primary influence on spot at the moment.</li><li>The CAD needs much lower US rates or a major sentiment shift on the USD if it is to improve significantly in the short run at least. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

While the Bank of Canada’s 1/2 point rate cut Wednesday predictably left the CAD under pressure, the currency has outperformed many of its major currency peers on the week overall, suggesting broader USD strength as much as lower domestic interest rates account for USDCAD’s push to Thursday’s peak just under 1.3870.The CAD has steadied today but scope for gains remains limited. Fundamental fair value sits at 1.3857 and the correlation screen highlights spreads as the primary influence on spot at the moment.The CAD needs much lower US rates or a major sentiment shift on the USD if it is to improve significantly in the short run at least. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CAD Weekly outlook – USDCAD Firm but Overbought