USD/CAD: Consolidation ahead of a renewed push lower in the days ahead – Scotiabank USDCAD Technical Analysis RiskAppetite Banks
trades little changed after another test of 1.3150. Economists at Scotiabank analyze the pair’s outlook.Risk appetite remains generally positive as markets anticipate slowing central bank hikes. That should all be CAD-supportive at the margin, or at least help limit CAD losses, even if focus is elsewhere at the moment.
Broader trends are a bit more nuanced though. USD gains should remain capped around the 1.32 area and the pattern of trade since mid-July rather suggests consolidation ahead of a renewed push lower in the days ahead.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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