The Canadian Dollar (CAD) has stabilized around the 1.38 mark against the US Dollar (USD) after a slight dip in overnight trading. As market participants await the North American trading session, the CAD's movement reflects the prevailing strength of the USD, as noted by Scotiabank’s Chief FX Strategists, Shaun Osborne and Eric Theoret. The exchange rate remains closely tied to broader USD trends.
Market dynamics suggest that any fluctuations in the USD could have a direct impact on the CAD's performance. With limited volatility in the early sessions, traders are monitoring key levels closely. A sustained position near 1.38 may set the stage for further developments in the currency pair as economic data and geopolitical factors continue to influence investor sentiment.
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Data Source: FX Killer Analysis Team Updated: 2026-01-07 14:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.