TODAY'S MARKET INTELLIGENCE
CAD Resilient Despite Rising Unemployment; USD/CAD Consolidates
English summary
USD/CAD held steady near 1.4120 in early European trading on Tuesday. Despite Canada's October unemployment rate rising to a six-month high of 6.7% and markets pushing back expectations for the Bank of Canada's next hike to March, the USD remained supported by an 84% probability of a Fed hike in December. Scotiabank warned that CAD strength lacks fundamental confirmation, with widening US-Canada yield differentials unfavorable to the loonie.
The English text is machine translated and may require verification against the Chinese version.
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