USD/CAD has pushed higher to start the year. Economists at the National Bank of Canada analyze Loonie’s outlook
Rate cuts by the BoC are likely to arrive before the Fed
The Canadian Dollar (CAD) has been under pressure from a combination of a stronger USD, a slowing economy and rising expectations for an easing in monetary policy. Oil prices have also failed to significantly rise despite renewed geopolitical pressure on the global stage.
Looking ahead, rate cuts by the Bank of Canada are likely to arrive before the Fed and exacerbate the yield differential with the US. Combined with a risk-off appreciation of the USD, we expect USD/CAD could reach 1.4500 by the midpoint of this year only to recover slightly by year-end.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.