Daily Market Updates: Scotiabank sets fair value for USDCAD at 1.4068

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Scotiabank sets fair value for USDCAD at 1.4068

The bank points to firm Bank of Canada tightening expectations, with October pricing at 14 bps and December at 37 bps.

Reported · Written up by our desk · Major Pairs

Scotiabank analysts say the Canadian dollar is trading defensively versus G10 peers, and they set a fair value estimate for USD/CAD at 1.4068, according to FXStreet.

FXStreet also reports that wider US–Canada yield spreads remain a headwind, as expectations for Bank of Canada tightening firm up. The article notes October pricing at 14 bps and December pricing at 37 bps of tightening.

FXStreet attributes the view to its insights team, citing Scotiabank’s assessment of the currency outlook as part of its market commentary.

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Sources

FXStreetUSD/CAD: Fair value estimate stands at 1.4068 – Scotiabank

Forex

Scotiabank sets fair value for USDCAD at 1.4068

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Sources

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