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EUR stuck around 1.12 with risk in Fed pricing – Scotiabank

EUR/USD is extending its recent, quiet consolidation around 1.12 and trading with modest support into Friday’s NA session, Scotiabank's Chief FX Strategist Shaun Osborne notes.

ECB policymakers remain dovish

"The renewed fade in Fed expectations is the most important near-term driver for EUR, as it remains a key source of uncertainty in the outlook for relative central bank policy. For the ECB, policymakers remain universally dovish and continue to communicate a preference for additional cuts in the coming meetings."

CAD consolidating within a right range and finding support from spreads – Scotiabank

The Canadian Dollar (CAD) is entering Friday’s NA session flat vs. the USD as it consolidates around the midpoint of this week’s range, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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USD/CAD extends consolidation ahead of US Consumer Sentiment data

USD/CAD is trading flat around 1.3960 at the time of writing on Friday, showing little to no directional bias as the pair remains confined within a narrow weekly range.
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