The Canadian Dollar underperforms despite risk appetite recovery. Economists at Scotiabank expect the Loonie to struggle to post gains.
Choppy range trading between 1.35-1.38 for now
“The improvement in risk appetite is a modest tailwind for the CAD versus the USD while US-Canada yield spreads across the curve are less onerous for the CAD following this week’s turmoil, they remain a drag.”
“Compelling reasons to push the CAD higher are scant and that likely means more, choppy range trading between 1.35-1.38 for now.”
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