According to FX Strategists at Scotiabank, the pair could attempt a test of 1.3000 and above in the short-term horizon. Key Quotes “Broader developments are dominating in the absence of high-level domestic events and releases, and NAFTA headline risk remains elevated as market participants assess the latest comments from U.S. Trade Representative Lighthizer. U.S.-Canada yield spreads remain elevated above 60bpts and CAD continues to trade well above our FV estimate (1.3282) incorporating both spreads and Canada’s terms of trade index. Domestic risk returns with Thursday’s speech from BoC Gov. Poloz and Friday’s monthly GDP for July”. “USDCAD has been quietly fading its recent decline. Bearish momentum indicators have softened and bearish trend strength indicators have moderated. USDCAD appears to be struggling to extend its modest gains through 1.2950 however we remain bullish targeting a push through 1.3000 toward the 50 and 100 day MA’s at 1.3050. We look to near-term support between 1.2920 and 1.2900″. 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 EUR/JPY: To move sideways and then gradually higher – Danske FX Street 4 years According to FX Strategists at Scotiabank, the pair could attempt a test of 1.3000 and above in the short-term horizon. Key Quotes "Broader developments are dominating in the absence of high-level domestic events and releases, and NAFTA headline risk remains elevated as market participants assess the latest comments from U.S. Trade Representative Lighthizer. U.S.-Canada yield spreads remain elevated above 60bpts and CAD continues to trade well above our FV estimate (1.3282) incorporating both spreads and Canada's terms of trade index. Domestic risk returns with Thursday's speech from BoC Gov. Poloz and Friday's monthly GDP for July". "USDCAD has been quietly… 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.
