USD/CAD: A return to the early September high near 1.37 is a realistic risk – Scotiabank

Market news

2 October 2023

USD/CAD: A return to the early September high near 1.37 is a realistic risk – Scotiabank

USD/CAD moves sharply back to the 1.36 area. Economists at Scotiabank analyze the pair's outlook.

Support aligns at 1.3520/1.3525

Solid USD gains on Friday put a bullish spin on the short and medium-term charts and drew a line under the developing downside pressures that had looked to be developing around funds through last week.

Gains extending through the upper 1.35s today suggest a return to the early September high near 1.37 is a realistic risk in the short run.

Support is seen at 1.3520/1.3525.

GBP/USD: A retest of the 1.20/1.21 area looks likely – Scotiabank

Chile IMACEC came in at -0.9%, below expectations (0.1%) in August

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