USD/CAD to dive toward 1.34 on a break below the 1.35 area – Scotiabank

FXStreet Insights Team FXStreet

CAD has extended gains on USD to low 1.35s. Economists at Scotiabank analyze Loonie’s outlook.

Soft undertone into the end of the week

USD/CAD gains were capped in the low 1.36s on Thursday and the CAD’s firm rebound from its intraday low leaves the USD trading with a soft undertone into the end of the week.

USD/CAD losses extended to test the 200-DMA area (1.3517) earlier while the USD has steadied, the absence of a more significant rebound keeps the technical focus on the downside and a test of the figure area (50% Fib retracement of the July/November rally at 1.3495). A push through here targets 1.34.

Resistance is 1.3600/1.3620 and 1.3650/1.3660.

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD clings to humble gains around 1.1780

EUR/USD manages to reverse Tuesday’s pullback, sticking to daily gains around 1.1780 following an earlier bull run past 1.1800 the figure. The pair’s slight advance comes on the back of the equally marginal uptick in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House.

GBP/USD clings to small gains above 1.3500

GBP/USD is posting moderate gains above 1.3500 on Wednesday. The pair edges higher as the US Dollar meets fresh supply amid a modest improvement seen in risk sentiment following US President Donald Trump’s first State of the Union address.

Gold rises toward $5,200, supported by geopolitics and trade jitters

Gold buyers are back in the game, eyeing $5,200 and beyonf on Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.