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7 Mar 2025

EUR extends gains for best week versus the USD since 2009 – Scotiabank

The Euro (EUR) is ending the week with another, solid daily gain on the US Dollar (USD). This is the EUR’s best weekly performance since 2009, according to Bloomberg, Scotiabank's Chief FX Strategist Shaun Osborne notes. 

EUR rally has room to flourish still

"Late week gains have been supported by a mild upward revision to Eurozone growth in Q4 (0.2% Q/Q, from 0.1%) and a further, small narrowing in EZ/US spreads (to -170bps). ECB policy hawks are expressing caution about the rate outlook following yesterday’s cut. S&P said Germany’s AAA rating was “not necessarily” at risk from fiscal reforms."

"Solid, sustained gains through 1.0800/05 suggest EUR gains can extend to 1.0950/00 (1.0964 is the 76.4% retracement resistance derived from the EUR 1.12/1.01 drop). Bullish short– and medium-term trend momentum is supportive of further gains at this point and suggest the EUR rally has room to flourish still. Support is 1.0800/10 and (key, in the short run) 1.0765."

Mar 7, 2025

CAD steady to slightly lower on temporary tariff relief – Scotiabank

The CAD is a moderate underperformer on the session, easing slightly alongside its commodity peers amid fragile risk appetite, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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Mar 7, 2025

Canada Unemployment Rate holds steady at 6.6% in February vs. 6.7% expected

The Unemployment Rate in Canada held steady at 6.6% in February, Statistics Canada reported on Friday.
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