CAD flat as Oil weakness offsets risk appetite – Scotiabank
The Canadian Dollar (CAD) is all but flat on the session. Markets may refocus on underlying fundamentals for a moment but broader geo-political tensions remain a risk for the CAD going forward, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
USD/CAD pullback stalls after reaching targets
"Crude Oil prices are lower on the session (and Canadian crude spreads are weakening as pipeline capacity constraints re-emerge), offsetting the improvement in (equity) risk appetite. The CAD’s fair value estimate sits at 1.3794, near yesterday’s spot low and close enough to current pricing to suggest that there is limited upside potential in the CAD in the current environment, all else equal."
"CAD gains extended to the upper 1.37 area yesterday, effectively reaching our short-term technical target. The USD’s snap higher from the intraday low suggests the short-term decline in funds has stalled for now at least."
"Spot gains are struggling to extend through the low/mid-1.38s (200-day MA at 1.3837) and require an extension above 1.3845/50 to point to a return to the 1.39 zone. Support below 1.3780/90, remains 1.3750 and 1.3720."
Related Articles
Intel’s Foundry Business Faces a Turning Point in 2026 — Earnings Could Be the Latest Catalyst
TradingKey - Amid a wave of “Sell America” sentiment sweeping across U.S. tech stocks, Intel (INTC) has stood out, bucking the broader market downturn. The stock has risen nearly 140% over the past year. For investors, the next potential catalyst lies just ahead—Intel’s upcoming earnings report.
Netflix Slumps as All-Cash Warner Bid Drains the Buyback Tank
TradingKey - After hours on January 20 ET, Netflix (NFLX) released its Q4 2025 earnings report. Despite both revenue and earnings beating expectations, the stock slumped nearly 5% after hours, retreating to its lowest level since the panic of last April.
OpenAI Hits $20 Billion Revenue Milestone, But the Math Still Leads to Ads
TradingKey — OpenAI CFO Sarah Friar disclosed in a blog post last Sunday that the company’s 2025 Annual Recurring Revenue (ARR) has exceeded $20 billion, up from $6 billion in 2024 and 10 times the $2 billion annualized revenue recorded in 2023. Despite surging revenue, the expenditure situation has
AGI Approaches: 2026 May Be Artificial Intelligence Turning Point, Musk Warns White-Collar Class Will Bear the Brunt
TradingKey — Have you noticed that the pace of artificial intelligence evolution is exceeding the limits of human intuitive perception? From the debut of ChatGPT to the rapid rise of multimodal AI systems, the development of AI technology has demonstrated a non-linear, exponential acceleration in just a few short years. Technological replacement cycles are compressing, and an era defined as a "historical turning point" may be upon us.
