Scotiabank pegs USD/CAD fair value at 1.4013, citing limited long-term tariff risks and neutral technical positioning.
The Canadian Dollar remains nearly flat against the US Dollar, trading close to Scotiabank’s fair value estimate of 1.4013. Overnight easing reversed as USD/CAD rebounded, tracking broader USD movements amid stable trade relations commentary from US officials.
The pair pivots around its 40-day moving average at 1.4074, with resistance at 1.4125 and support at 1.4060. Scotiabank strategists note no significant shift in the CAD’s technical stance, while US Trade Representative remarks suggest potential progress in trade talks by year-end.
Market reaction has been muted, with USD/CAD holding within recent ranges as investors await further developments in US-Canada trade negotiations.