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fxAug 11, 2026, 2:49 PM

Bullish Momentum Builds for Canadian Dollar vs US Dollar: Scotiabank

Scotiabank strategists note rising bullish momentum for the Canadian dollar, citing higher oil prices and a strong domestic jobs report contrasted with weaker US labor data.

USDCAD

Scotiabank strategists Shaun Osborne and Eric Theoret highlighted that the Canadian dollar is building bullish momentum against the US dollar.

Supporting factors include higher oil prices and Friday’s robust Canadian employment data, which stand in contrast to weaker US labour market figures.

Source: FXStreet Forex News