In view of FX Strategists at Scotiabank, the pair’s near term stance remains neutral/bearish and spot could drop to the sub-1.3000 zone. Key Quotes “Drivers are mixed as domestic oil prices remain soft and yield spreads consolidate. Measures of sentiment have offered recent support on the back of an improvement in the tone of trade negotiations and have allowed for a modest firming in domestic rate expectations. OIS are almost fully pricing in one 25bpt BoC rate hike by December”. “Momentum indicators are modestly bearish and the DMI’s are confirming. The recent three session consolidation range has been remarkably tight with congestion observed between 1.3050 and 1.3080. We look to an extension of USDCAD‘s recent decline, targeting a break of 1.3000 and a push toward the 100 day MA in the mid/upper-1.29s”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Dallas Fed: Robust expansion in Texas manufacturing continues FX Street 5 years In view of FX Strategists at Scotiabank, the pair's near term stance remains neutral/bearish and spot could drop to the sub-1.3000 zone. Key Quotes "Drivers are mixed as domestic oil prices remain soft and yield spreads consolidate. Measures of sentiment have offered recent support on the back of an improvement in the tone of trade negotiations and have allowed for a modest firming in domestic rate expectations. OIS are almost fully pricing in one 25bpt BoC rate hike by December". "Momentum indicators are modestly bearish and the DMI's are confirming. The recent three session consolidation range has been remarkably tight… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
