Canadian Dollar: Risks skewed higher against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is a mild outperformer versus the US Dollar (USD), supported by firmer Oil, even as USD/CAD trades about one standard deviation above their fair value estimate.
The Canadian Dollar is likely to strengthen against the US Dollar due to supportive oil prices, suggesting a potential upward movement in CAD. However, the current USD/CAD level indicates a correction may be needed.
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is a mild outperformer versus the US Dollar (USD), supported by firmer Oil, even as USD/CAD trades about one standard deviation above their fair value estimate.
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