USD/CAD may hold between 1.3450/1.3550 for now – Scotiabank

Notícias do Mercado

27 fevereiro 2024

USD/CAD may hold between 1.3450/1.3550 for now – Scotiabank

USD/CAD continues to drift somewhat aimlessly within a well-established trading range. Economists at Scotiabank analyze the pair’s outlook.

Technicals suggest more of the same

Flat range trading and flat trend oscillators suggest the sideways movement in the USD/CAD pair will extend for a little longer at least.

Last week’s ‘inside range’ week signal was a ‘heads up’ that the broader push higher in the USD may be stalling but there is no clear sign in price action that a softer USD trend is about to unfold. That does appear to be where the main directional risk lies from my point of view though. Price action may hold between 1.3450/1.3550 for now, however.

US Durable Goods Orders decline 6.1% in January vs -4.5% expected

United States Durable Goods Orders registered at -6.1%, below expectations (-4.5%) in January

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