The Canadian Dollar (CAD) is experiencing slight depreciation during the overnight trade, holding a narrow range around 1.3850. Insights from Scotiabank’s Chief FX Strategists highlight the CAD’s struggle amid a softer USD.

Despite the overall tone in the market favoring the CAD, uncertainty remains. Traders should keep an eye on upcoming economic data that may impact the CAD’s trajectory.

Scanning the economic landscape will be essential in understanding the CAD’s relative strengths and weaknesses as the market evolves.