The CAD is experiencing slight softness in quiet trading, primarily due to a stronger USD. The CAD’s fair value estimate has increased slightly, reflecting a minor upward adjustment, note Scotiabank’s Shaun Osborne and Eric Theoret.
CAD softens in quiet trade
“Losses reflect the generally stronger USD overall, with the CAD finding little relief from firmer commodities or the positive (so far) risk mood.”
“Those factors have helped nudge the CAD’s fair value estimate a little higher—to 1.3632—this morning and should help reinforce better USD selling interest on minor gains through the upper 1.36s.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)