
The Canadian Dollar (CAD) is picking up a little support amid the broader decline in the USD into the end of the week but gains remain suitably measured, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
CAD gains modestly
“Canada is clearly not off the tariff hook—and next week is likely to see the Bank of Canada cut rates while the Fed sits on its hands, reinforcing punishingly wide yields spreads for the CAD. Oil prices have slipped somewhat, following President Trump’s comments to the Davos/WEF yesterday, and commodity prices more broadly have consolidated over the past week after a
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