Scotiabank strategists maintain a bearish outlook on USD/CAD as traders await key US/Iran developments and Canadian jobs data.
The USD/CAD pair remains under pressure below the 1.3645 mark, according to Scotiabank strategists. The Canadian Dollar shows little movement as markets await US/Iran headlines and Friday’s Canadian employment report, with the pair trading near 1.3600 levels.
Current spot levels stay above Scotiabank’s fair value estimate, though the bearish trend is expected to hold unless a break above 1.3645 occurs. Traders are positioning for potential volatility tied to geopolitical risks and domestic economic data.
No immediate market reaction has been observed, with focus shifting to upcoming catalysts that could influence the pair’s direction.