# USD/CAD: Economic data and their impact should be the primary driver in the near term – Scotiabank — Octa

> Scotiabank analysts said USD/CAD is trading above 1.32 and that US and Canadian economic data, rather than risk appetite or commodities, should drive the pair in the near term. They also noted possible month-end passive hedge rebalancing flows.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/35274-usd-cad-economic-data-and-their-impact-should-be-the-primary-driver-in-the-near
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

This is currency commentary with little direct effect on grain or feed prices beyond a general loonie signal for Canadian exporters.

## Read by commodity

- USDCAD: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1056492/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.