- Analytics
- News and Tools
- Market News
- USD/CAD to surge towards the 1.2900/50 area on a break above 1.2815 – Scotiabank
USD/CAD to surge towards the 1.2900/50 area on a break above 1.2815 – Scotiabank
USD/CAD is poised to close out the week on a firm note nearing 1.28. A break above the 1.2815 would clear the way towards the 1.2950 region, economists at Scotiabank report.
Minor support for the loonie from crude
“Firm commodity prices – with crude heading for a sixth weekly gain – are providing a modest prop for the CAD but near term risks are tilting a bit lower for the currency amid soft risk appetite and a long wait for the March BoC decision.”
“The short-term uptrend has gathered a little more bullish momentum over the past session or two and the USD is within reach of minor resistance at 1.2815 (minor high from January). There is little resistance above there until the 1.2900/50 zone, however – the range highs for spot over the past year.”
“Intraday support is 1.2710/15.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
