CAD holds steady near Friday’s close against USD – Scotiabank

FXStreetDec 15, 2025 1:57 PM

View all comments（0）



The Canadian Dollar (CAD) remains near Friday’s closing level versus the US Dollar (USD), trading just below its estimated fair value of 1.3798. While short-term consolidation in USD losses is possible, the underlying trend favors further CAD strength, with resistance on moderate USD rebounds expected around 1.3850–1.3875, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

USD/CAD slightly below fair value amid mild CAD stretch

"The CAD is holding close to Friday’s closing rate versus the USD. Spot continues to trade a little below our estimated fair value (1.3798) but the stretch in the CAD’s valuation is mild and there remains ample leeway for fundamentally-driven strength to extend."

"We noted last week that a USD/CAD close below 1.3769 (61.8% retracement of the USD’s H2 rally) should indicate more USD losses towards 1.35/1.36 in the coming weeks. It was close but the CAD just failed to hold the necessary gain through 1.3769 into the weekend, however."

"And with the USD veering into oversold territory on the short-term oscillators, some consolidation in recent USD losses may be a risk in the short run. Given the strength of the underlying trend lower on the charts, we think scope for USD gains is limited, however. We expect firm resistance on moderate USD rebounds to the 1.3850/75 zone."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Micron (MU) Stock Crashes Below $910 as China’s CXMT Plans an $8.5B IPO; Is the DRAM Bull Cycle Cracking?

Micron fell 7% on July 15 as China’s CXMT announced an $8.5B IPO and the US government considered new HBM export restrictions. At $904, the 50-day EMA and $869 support are all that stand between bulls and a deeper drop. KeyBanc says buy it.

South Korea’s First Rate Hike in Three and a Half Years: Korean Stock Declines Widen, KOSPI Slumps Over 6%, SK Hynix Plunges Over 11%

The Bank of Korea's rate hike announcement triggered a stock market sell-off, with the KOSPI dropping 6%, Samsung Electronics falling over 8%, and SK Hynix plunging more than 11%.

Japan and South Korea Stocks Hammered at Open: KOSPI Tumbles 5%, SK Hynix Plunges 9%, Samsung, Kioxia and SoftBank Follow Lower

Japanese and South Korean stock markets opened sharply lower, with the KOSPI Index plunging 5% and the Nikkei 225 falling over 2%. SK Hynix led the decline with a drop of more than 9%, while Samsung Electronics, Kioxia, and SoftBank also followed the downward trend.

TSMC (TSM) Stock Forecast: June Revenue Up 68%, Q2 Earnings Tomorrow; Is $438 the Next Stop?

TradingKey - TSMC reports Q2 2026 earnings tomorrow, July 16. June revenue surged 68% year-on-year. Consensus: $40B revenue, $3.83 EPS. At $426 on trendline support, the key question is whether tomorrow’s print triggers a move back toward $438.

IBM (IBM) Stock Forecast: Down 25% After Q2 Warning; Is $213 the Floor?

TradingKey - IBM fell 25% on Tuesday — its worst day since 1968 — after Q2 revenue of $17.2B missed estimates by $700M. Customers shifted budgets to AI hardware instead of IBM software. At $219, here’s where the floor is and what July 22 earnings mean.

Featured Tools