The Canadian Dollar is poised to retain a soft undertone, in the opinion of economists at Scotiabank.

The Loonie has little chance of strengthening

“Seasonal pressures which are typically adverse for the Canadian Dollar through Q1.”

“We look for the USD to retain a firm undertone in the short run.”

“Trend signals are aligning bullishly across short, medium and long-term DMI oscillators.”

“The USD/CAD pair is poised to remain firm in the upper 1.34s between a potential range base of 1.3320 and a ceiling of 1.3630.”