Scotiabank News & Analysis

The Canadian Dollar (CAD) is little changed against the stronger US Dollar (USD) on the session so far.

The US Dollar (USD) is broadly firmer this morning but gains versus the majors are limited for the most part, leaving the currencies holding established trading ranges.

Pound Sterling (GBP) is trading modestly higher, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The EUR is flat on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

With a week to go before the 1-month reprieve for President Trump’s border tariff threat expires (March 4th), short-term vols are ticking up again.

The US Dollar (USD) is trading mixed against the major currencies in a session where risk appetite appears to be faltering, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

BoC Governor Macklem said Friday the economy was on a ‘better footing’ on the back of a pickup in consumer demand but noted again that the consequences of a trade war with the US would be ‘severe’ and the threat of tariffs was already doing economic ha…

USD-bearish technical signals noted recently (‘engulfing’ patterns on the daily and weekly charts and a key reversal week on the ‘regular’ charts) remain the salient features of USD/CAD’s technical picture, Scotiabank’s Chief FX Strategist Shaun Osborn…

The German federal election result yielded the expected shift to the right—a win for the conservative CDU/CSU and gains for the far-right AfD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) is little changed in quiet trade. Overnight price action saw the Euro (EUR) advance in response to the anticipated win for the center-right in Germany’s federal election but the result was largely as expected, Scotiabank’s Chief FX …

UK Retail Sales rose a solid 2.1% in January, well ahead of expectations, after run of soft data in Q4, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Preliminary Eurozone PMI data for February were mixed to slightly softer, weighing on the EUR somewhat in European trade, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) is trading higher on the day overall, with yesterday’s big winner, the JPY, this morning’s big loser after Japan’s January headline CPI reflected the anticipated pick up to 4.0% Y/Y, Scotiabank’s Chief FX Strategist Shaun Osborne no…

The Canadian Dollar (CAD) is a very moderate loser on the day, down a little more than 0.1%.

The Japanese Yen (JPY) is leading the currency run higher on the US Dollar (USD), Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Sterling is a little firmer on the session, regaining the low 1.26 zone where recent gains have stalled.

The Euro (EUR) has managed a fairly solid-looking short-term rebound from yesterday’s low near 1.04 on little news other than the broader mood-shift on the USD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (USD) is a little firmer on the session but it is lagging its commodity peers (AUD, NZD) and the spot market is still essentially range trading and awaiting developments, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The general US Dollar (USD) rebound that has developed over the course of this week is showing signs of stumbling, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) is still struggling to make and hold ground through the low 1.26 area following the UK inflation data earlier, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) softened through Asian and European trade following Trump’s auto tariff comments, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is little changed on the session as spot continues to pivot around 1.42, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) continues to grind higher in relatively quiet trade.

The Pound Sterling (GBP) is a relatively weak performer on the session vs US Dollar (USD), down a little more than 0.2% on the generally strong USD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Germany’s February ZEW Investor Survey reflected a stronger than expected rise in the Expectations index (26, versus 20 expected and 19.3 in January), Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is little changed in quiet trade.

North American markets return from their respective long weekends with the Dollar Index (DXY) trading a little above the two-month low reached in quiet trade yesterday, breaking a streak of six consecutive daily losses for the index, Scotiabank’s Chief…

Pound Sterling (GBP) is up modestly vs US Dollar (USD) on the session at writing after backing off slightly from the overnight peak just shy of 1.26—its highest level since the end of last year, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) is little changed on the day against the US Dollar (USD) but has racked up a solid net gain on the week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is up only smalls on the day and is lagging most of its G10 peers in their recovery against the big dollar on the week but the push under 1.42 is quite impressive from my point of view, Scotiabank’s Chief FX Strategist Shaun O…

The US Dollar (USD) is generally softer on the day and is ending the week with a sizeable loss that leaves the DXY trading at its lowest level since mid-December.

The Pound Sterling (GBP) is little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

ECB President Lagarde told EU lawmakers yesterday that inflationary pressures were easing and the central bank was on target to reach its 2% inflation goal this year, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is softer in response to the latest tariff threat from the US, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Markets are having a relatively muted reaction to the latest round of tariff threats from President Trump—25% tariffs on all steel and aluminum imports, effective March 12th, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) is a moderate outperformer on the session after dipping modestly in line with its peers in light trade overnight, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) traded defensively Friday as President Trump announced that reciprocal tariffs were coming soon, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) has softened in response to news of reciprocal tariffs on imported steel and aluminum to the US.

The US Dollar (USD) starts the week a little firmer overall from Friday but well of its best overnight levels. Comments from President Trump over the weekend confirmed that reciprocal tariffs would be announced on steel and aluminum imports in the next…

After German Factory Orders data yesterday surprised positively, Industrial Production data for December slumped a larger-than-expected 2.4% on weaker auto output, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is one of the weaker major currencies on the session but losses versus the USD amount to a little more than 0.1%.

The US Dollar (USD) is narrowly mixed for the most part against the major currencies, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) slid in the wake of the BoE rate decision, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

German Factory Orders data for December rose a solid 6.9% in the month, versus expectations for a 2.0% gain, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The softer CAD reflects the general trend in the majors against the broadly higher USD on the session.

The US Dollar (USD) is trading a little higher overall this morning, partially reversing three days of losses following the tariff turmoil at the start of the week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.