USD/CAD to tick down to 1.41 – Danske Bank
Source Fxstreet
For CAD FX, all eyes will be on Wednesday, with the BoC meeting at 14:45 CET, where markets and consensus favour a 25bp rate cut, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
USD contunues to weaken
"Likewise, we expect the BoC to continue its easing cycle, cutting the policy rate by 25bp to 2.75% to ensure that the economy is well-prepared for the impact of US tariffs. Hence, tariffs continue to weigh heavily on the Canadian economy and CAD FX. Looking ahead, we project USD/CAD to tick down to 1.41 given stretched short CAD positioning alongside continued broad USD weakening."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
XRP is correcting by almost 30% in the last 30 days, with its price trading below $3 for nearly a month. The Directional Movement Index (DMI) shows a strong downtrend, with the Average Directional Ind
Bitcoin crashes to $80k as Ether tumbles below $2k. How low can prices get?Bitcoin just collapsed to $80,000, wiping out over $200 billion from the crypto market in one of the worst single-day crashes over the past year, according to data from CoinGecko. Ether also crashed, tumbling below $2,000 to trade at $1,992, a level we haven’t seen in over six months. The sudden sell-off came after Donald […]
Bitcoin just collapsed to $80,000, wiping out over $200 billion from the crypto market in one of the worst single-day crashes over the past year, according to data from CoinGecko. Ether also crashed, tumbling below $2,000 to trade at $1,992, a level we haven’t seen in over six months. The sudden sell-off came after Donald […]
The Australian Dollar (AUD) rebounded on Monday, recovering losses from the previous two sessions against the US Dollar (USD).
TradingKey - The first White House Crypto Summit disappointed expectations, putting pressure on Bitcoin's price as it fell closer to $80,000. On Monday, the first White House Crypto Summit failed to
Bitcoin (BTC) hovers around $82,000 on Monday after falling nearly 15% last week.
Related Instrument
