Soft USD trend set to extend – Scotiabank

The USD ended last week on the defensive. Economists at Scotiabank analyze Greenback’s outlook.

Volumes may pick up in the next day or so

The USD retains a weak undertone to start the new week and continued USD softness looks the main risk for markets in the near-term at least as investors adjust to the USD’s reduced growth and yield advantages.

Trading is relatively becalmed today after the US Thanksgiving break; volumes may pick up in the next day or so around the more important data releases ahead and month-end.

Nov 27, 2023

USD/CAD: Loonie is finding it hard to make meaningful progress at the moment – Scotiabank

After closing out the weekly strongly and outperforming on Friday, the CAD is little changed on the day against the USD.

ECB’s Lagarde: Headline inflation may rise again slightly in the coming months

European Central Bank (ECB) President Christine Lagarde said on Monday that the economy is likely to remain weak for the rest of the year, and wage pressures remain strong.