Canadian Dollar: Sentiment improves as risks fade against US Dollar – Scotiabank

The post Pound Sterling Price News & Forecast: GBP/USD trades slightly higher as the US Dollar fails to gain strong traction appeared on BitcoinEthereumNews.com. British Pound: Recovery tests key resistance against US Dollar – Scotiabank Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” Read more… British Pound elevates despite firm US claims GBP/USD trades higher near the

The post British Pound: Recovery tests key resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. Pound sentiment improves on policy repricing “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” “The recent recovery in sentiment remains important, signaling market confidence in the aftermath of PM Starmer’s June 22 resignation announcement.” “Fundament

The post Euro: Support from ECB repricing and yields – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret notes the Euro (EUR) is slightly higher versus the US Dollar (USD), supported by a repricing of the European Central Bank (ECB) outlook toward renewed hawkishness and recovering yield spreads. They highlight markets now price about 35 bps of tightening by December, lifting fair value estimates for EUR/USD toward the mid to upper 1.14s despite only modest recent gains. Euro aided by hawkish ECB repricing “The EUR is entering Thursday’s NA session with a fractional 0.1% gain vs. the USD as it performs in line with most of the G10 currencies in quiet overall trade.” “The outlook for relative central bank policy is offering the EUR support as market participants reprice the ECB outlook in light of renewed hawkishness and a resurgence in geopolitically-driven oil price gains.” “Markets are currently pricing in about 35bpts of tightening

The post Canadian Dollar holds in range as weaker US Dollar offsets lower Oil prices appeared on BitcoinEthereumNews.com. USD/CAD trades around 1.4170 on Thursday at the time of writing, virtually unchanged on the day, as weakness in the US Dollar (USD) offsets the negative impact of lower Oil prices on the Canadian Dollar (CAD). The Canadian Dollar remains under pressure as Crude Oil prices extend their corrective pullback after the recent geopolitical-driven rally. Although tensions in the Middle East remain elevated after the United States (US) and Iran exchanged military strikes for a second consecutive day, traders appear to be unwinding part of their recent bullish Oil positions, weighing on the commodity-linked Loonie. Still, downside pressure on the Canadian currency remains limited by expectations that the Bank of Canada (BoC) could resume tightening later this year. The central bank left its policy rate unchanged at 2.25% in June, while swap markets now price roughly a 60% ch

The post Euro advances against Canadian Dollar on strong German trade, weak oil appeared on BitcoinEthereumNews.com. EUR/CAD gains ground after two days of losses, trading around 1.6210 during the European hours on Thursday. The currency cross remains stronger following stronger-than-expected trade data from Germany. Germany’s Trade Surplus widened to €19.1 billion in May, marking the largest surplus since February. This comfortably beat market forecasts of €14.8 billion and followed an upwardly revised €14.7 billion surplus in April. This expansion was driven by an unexpected 0.9% month-on-month surge in German exports, which hit a three-and-a-half-year high and defied expectations of a 0.3% decline. Conversely, imports dropped by 2.5% to a three-month low, missing the estimate for a 0.1% growth and reversing the previous month’s 1.1% gain. The EUR/CAD cross found support as the commodity-linked Canadian Dollar (CAD) weakened in tandem with falling oil prices. West Texas Intermediate

The post USD/CAD Price Forecast: Hovers above 1.4150 as bullish bias prevails appeared on BitcoinEthereumNews.com. USD/CAD moves sideways after two days of losses, trading around 1.4170 during the European hours on Thursday. The technical analysis of the daily chart indicates the pair is remaining within the ascending channel pattern, indicating a persistent bullish bias. The USD/CAD is retaining a bullish near-term bias as it holds comfortably above the 50-period Exponential Moving Average (EMA). Price is pressing against the short-term nine-period EMA, which acts as immediate resistance, while the 14-day Relative Strength Index (RSI) around 64 stays in positive territory but off extreme overbought readings, hinting at sustained upside momentum with some scope for consolidation. The USD/CAD pair may test the immediate barrier at the nine-day EMA of 1.4182, followed by the primary barrier at the nearly 15-month high of 1.4248, reached on June 24. Further advances would expose the upper

The post Canadian Dollar gains ground on surging Oil, rising BoC hike bets appeared on BitcoinEthereumNews.com. The USD/CAD pair loses ground to near 1.4165 during the Asian trading hours on Thursday. A rise in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). Traders await the US weekly Initial Jobless Claims report later on Thursday. Axios reported that the US strikes hit a rail line in Golestan province in northeastern Iran, near the border, using cruise missiles. It marked the first US strike on Iranian infrastructure since the ceasefire took hold. Iran said multiple US artillery shells struck a railway bridge west of Aghala in Golestan early Thursday, triggering several explosions. Earlier, US President Donald Trump said an interim agreement to end the war with Iran was “over.” Iranian Parliament speaker Mohammad Bagher Ghalibaf warned Washington that any U.S. military action will prompt retaliation. It is worth notin

The post Oil rally lifts loonie as Polymarket pegs July Fed hold at 75.5% appeared on BitcoinEthereumNews.com. Alvin Lang Jul 08, 2026 16:18 Canada’s dollar strengthened as oil prices climbed, with traders bracing for upcoming U.S. jobs data that could reshape expectations for the Fed’s next move. Oil rally lifts loonie as Polymarket pegs July Fed hold at 75.5% Canadian Dollar Rallies With Oil as Polymarket Shifts to 75.5% “No Change” for the July 2026 Fed Decision The Canadian dollar strengthened on an oil rally as traders looked ahead to upcoming U.S. jobs data and the Federal Reserve outlook. On Polymarket, the “Fed Decision in July?” ladder contract moved higher on the “No change” outcome to 75.5% from 71.5%. Key Takeaways Polymarket prices a 75.5% chance of no Fed rate change after the July 2026 meeting. Traders repriced the July Fed path as markets weighed the oil-linked move in the Canadian dollar ahead of U.S. jobs data and the Fed outlook. The contract resolv