From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
16 Aug 2017
USD/CAD stays neutral near term – Scotiabank
Eric Theoret, FX Strategist at Scotiabank, reiterated the pair’s outlook is expected to stay on the neutral side in the short term.
Key Quotes
“The near-term balance of risk appears neutral-positive, with steady drivers and a clear improvement in the broader tone as risk reversals fade the recent build in the premium for protection against CAD weakness”.
“USDCAD continues to consolidate around the mid-1.27 area representing the first major retracement (23.5% at 1.2739) of the May-July decline”.
“Momentum signals are neutral and trend indicators are muted. We await a break of either 1.2650 or 1.2780”.