USD/CAD: Loonie unlikely to find support as faces a number of challenges – Scotiabank USDCAD Banks Canada
“CAD-positive yield differentials earlier this year have evaporated at the short end of the curve and now stand healthily in the USD’s favour. That may not last but it is a clear impediment for the CAD right now.”
“While we think equity market trends are driving the bus in terms of the CAD trend in the short run, our correlation screens do note a strengthening in the CAD’s relationship between spreads and commodities at the moment. These factors may become more influential on the CAD’s performance if the equity market link weakens.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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