USDJPY
EURUSD
USDJPY
CAD steadies near 1.38 as USD sets the tone – Scotiabank
Key Takeaways (30s Read)
The CAD steadies around 1.38 influenced by USD trends.
The Canadian Dollar steadies around 1.38 amid quiet trading, influenced by the performance of the USD. Scotiabank's strategists noted that ongoing trends reflect the broader movements of the USD. As North America opens, traders will be watching how CAD responds, especially in relation to any new data that could increase market liquidity. Currently, the CAD shows stability, yet its future movements remain hinged on the direction of the USD, marking this as a critical point for traders to monitor closely.
AI Analyst
AI Opinion
"Currently, the CAD is steady around 1.38 but remains influenced by the movements of the USD. If the USD maintains a bullish trend, CAD could face downward pressure. The opening of the North American market may bring fresh data that can enhance liquidity and alter market dynamics. Traders should closely monitor upcoming US economic indicators. Additionally, technical levels around resistance and support will be crucial, so market reactions warrant careful observation."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.