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9 Jan 2024

USD/CAD: Gains through 1.3390/1.3400 will bolster near-term upside momentum – Scotiabank

USD/CAD has nudged a bit higher on the session. Economists at Scotiabank analyze the pair’s outlook.

Support is 1.3340

USD/CAD perks up a bit reflecting the upward trend in funds that has developed since the turn of the year.

Trend momentum is weak and the USD/CAD pair has struggled to better resistance around 1.3390/1.3400 over the past few sessions. Still, broader technical trends suggest developing pressure for a correction in the late 2023 USD decline and a retracement towards the 1.35 area. 

Gains through 1.3390/1.3400 will bolster near-term upside momentum. 

Support is 1.3340. 

 

Jan 9, 2024

EUR/USD to retest the upper 1.08s on weakness through minor support at 1.0930 – Scotiabank

EUR/USD drifts back to low 1.09s. Economists at Scotiabank analyze the pair’s outlook.
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Jan 9, 2024

Canada Building Permits (MoM) came in at -3.9% below forecasts (-1.7%) in November

Canada Building Permits (MoM) came in at -3.9% below forecasts (-1.7%) in November
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