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Canadian dollar steadies near fair value versus US dollar

Scotiabank put USD/CAD fair value near 1.40, citing a USD that is easing on the margin but still supported by broader dollar moves.

Reported · Written up by our desk · Major Pairs

Scotiabank strategists Shaun Osborne and Eric Theoret said the Canadian dollar is tracking the broader US dollar trend, with USD/CAD easing briefly overnight before rebounding to trade nearly flat.

They highlighted that comments from US officials point to limited long term tariff damage, keeping pressure on the currency contained. Scotiabank’s fair value estimate for USD/CAD remains close to spot, around 1.40.

On the technical side, the strategists described the CAD as essentially unchanged, with spot pivoting around the 40 day moving average at 1.4074. They said the pair is holding below USD resistance at 1.4125 and above initial support at 1.4060.

FXStreet also noted broader market context around the US dollar, including risk aversion tied to geopolitical tensions that weighed on major currency pairs such as GBP/USD and EUR/USD during the session.

Latest closeEUR/USD 1.141 ▼0.0%|GBP/USD 1.338 ▼0.4%

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