Scotiabank Flags Bullish Signals for Canadian Dollar vs US Dollar
Scotiabank analysts note bullish signals for the Canadian dollar, expecting gains against the US dollar as CAD has lagged peers despite a softer USD and improving Canadian data.
USDCAD
According to Scotiabank strategists Shaun Osborne and Eric Theoret, the loonie has underperformed its G10 peers recently. This comes even as the US dollar has softened and Canadian economic data has surprised to the upside relative to the United States.
The bank sees bullish signals that point to a potential catch-up rally for the Canadian currency against the greenback.
Source: FXStreet Forex News