The Canadian Dollar (CAD) is a relative outperformer in Friday's session, says Shaun Osborne, Chief FX Strategist at Scotiabank
USD/CAD short-term trend momentum is weak
“Despite broader US Dollar (USD) strength and weak stocks, the CAD is a relative out-performer on the session. Volatility in Europe is helping support the CAD at the margin, with EUR/CAD easing more than 1% on the week.”
“Minor USD gains through the overnight session are showing signs of stalling out in the mid/upper 1.37 area and Tuesday’s weak close for the USD remains a net negative for USD/CAD at the moment.”
USD/CAD short-term trend momentum is weak
“Despite broader US Dollar (USD) strength and weak stocks, the CAD is a relative out-performer on the session. Volatility in Europe is helping support the CAD at the margin, with EUR/CAD easing more than 1% on the week.”
“Minor USD gains through the overnight session are showing signs of stalling out in the mid/upper 1.37 area and Tuesday’s weak close for the USD remains a net negative for USD/CAD at the moment.”
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.