- Analytics
- News and Tools
- Market News
- CAD/MXN: Losses could extend to the 12 area – Scotiabank
CAD/MXN: Losses could extend to the 12 area – Scotiabank
MXN continues to strengthen and extend gains through its recent range highs against the CAD. Economists at Scotiabank analyze CAD/MXN outlook.
Significant rally unlikely to develop
The cross has put some pressure on bear trend resistance in the past couple of weeks but there is little else from price action to suggest that a significant rally in the CAD is poised to develop.
Daily and weekly DMI signals do highlight the stretched nature of the CAD sell-off here but the degree of ‘stretch’ is not that extreme (relative to recent cycles).
Losses could, potentially, extend to the 12 area (range lows from 2010/15) now.
© 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
