USD/CAD to advance nicely toward the 1.37 level – Scotiabank

USD/CAD has regained the 1.36 handle. Economists at Scotiabank expect the pair to enjoy further gains.

Firm support on dips to the low/mid 1.35s

“CAD losses on the week through the mid-1.35s point to additional losses towards the 1.36/1.37 range.”

“Underlying trend dynamics are USD-bullish across short and medium-term oscillators, suggesting limited scope for counter-trend corrections (lower) in the USD at the moment.”

“Look for firm USD support on dips to the low/mid 1.35s.”