Canada Dollar Forecast

Interesting chart, despite the Loonie trending weaker (C$ 1.3497 – today), the big 6 Canadian banks forecasts (on average) remain steadfast in their bullish stance for the Canada dollar. In contrast, given the current $C trend weaker and fundamentals (e.g. interest rate differentials, a near inverted yield curve, lower oil prices, higher taxes, increased political risk etc..) the CFXUA remains bearish on the Loonie. Anticipate a test even weaker to the $C 1.3650 area in the near term.

USD/CAD

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