Range holds as fair value diverges – Scotiabank

Range holds as fair value diverges – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is flat against the Dollar (USD) but supported by elevated Oil prices and narrow yield spreads. They see USD/CAD fundamentally rich versus a fair value (FV) in the mid‑1.34s and expect a 1.3650–1.3720 range near term, with focus on Wednesday’s Fed and Bank […]

Struggles to extend recovery above 1.1530

Struggles to extend recovery above 1.1530

The EUR/USD pair holds onto Monday’s gains slightly above 1.1500 during the European trading session on Tuesday. The major currency pair trades firmly as the US Dollar (USD) has come under pressure ahead of the Federal Reserve’s (Fed) monetary policy announcement on Wednesday. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s […]

Close split keeps May hike in play – TD Securities

Close split keeps May hike in play – TD Securities

TD Securities strategists Prashant Newnaha and Alex Loo note the RBA lifted the cash rate by 25 bps to 4.10% in a narrow 5-4 decision, driven mainly by elevated domestic inflation and excess demand. They still expect another hike in May but stress that outcome is not assured, with Middle East conflict dynamics and inflation […]