Scotiobank

Bank of Nova Scotia, trading as Scotiabank, is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario.

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USD/CAD Under Pressure as Oil Surge and Yield Spread Narrowing Bolster Canadian Dollar

FX Market Update—The USD is strengthening broadly on the back of geopolitical tensions as market participants respond to news of Israeli airstrikes launched against Iran. The distribution of FX returns is one of classic risk aversion with underperformance from AUD and NZD, weakness in MXN and SEK, and losses for EUR and GBP.

TRADE

Scotiobank

FX Market Update: Cautious Trading Ahead of Fed Decision; USD Firms, TRY Slides

• USD firmer as markets trade cautiously into Fed decision.
• CAD slips back from probe through upper 1.42s.
• EUR drifts lower after another failure around 1.0950 yesterday.
• GBP tracks peers, short-term price patterns may be tilting negative.
• JPY drops after BoJ holds policy rate at 0.50%, as expected.
• AUD, NZD lower in line with peers; Aus jobs, NZ GDP data due tonight.
• MXN softer on the day but holds gains back through 20.

FOREX

Scotiobank

Scotiobank

Author's articles

USD/CAD Under Pressure as Oil Surge and Yield Spread Narrowing Bolster Canadian Dollar

FX Market Update: Cautious Trading Ahead of Fed Decision; USD Firms, TRY Slides

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