USD/CAD to ease toward 1.30 by year-end – Scotiabank

Market news

26 July 2023

USD/CAD to ease toward 1.30 by year-end – Scotiabank

The Canadian Dollar (CAD) has strengthened modestly since the start of June, rising some 2% against the generally weaker USD. Economists at Scotiabank analyze USD/CAD outlook.

An overshoot to the 1.28 area is not to be excluded as a risk in Q3

We anticipate the peak in the global tightening cycle will give risk appetite a broad lift in the months ahead, which should add to CAD tailwinds.

We anticipate some modest improvement in the CAD versus the USD over the second half of the year and continue to target USD/CAD easing to 1.30 by year-end.

An overshoot to the 1.28 area is not to be excluded as a risk in Q3.

ECB: Increased likelihood of undesirable exchange rate volatility – Commerzbank

South Korea: GDP disappoints in Q2 – UOB

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.