USD/CAD trades at 1.4227 as the Canadian Dollar shows resilience, supported by positive trade data and political headwinds impacting the US Dollar.
Scotiabank notes USD/CAD around 1.4227 with CAD flat but outperforming G10 peers, supported by stronger trade balance and political risks weighing on USD.
The Canadian Dollar maintains recent gains against the US Dollar, trading near 1.4227. Scotiabank strategists highlight that the CAD is outperforming most G10 peers, bolstered by a stronger-than-expected August trade balance report.
The CAD is being supported by a stronger August trade balance and political risks that are currently weighing on the US Dollar.