Loonie gets no support from BoC. Forecast as of 11.06.2024

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Canada was the first G7 country to cut its key interest rate. Its economy shows more sensitivity to aggressive monetary restriction in 2022-2023 than its US counterpart. Let’s talk about this topic and make a trading plan for USDCAD.

Weekly Canadian dollar fundamental forecast

Buy the rumor, sell the fact. This principle helped correctly predict the USDCAD reaction to the start of monetary expansion in Canada. Before the June BoC meeting, the futures market gave such an outcome an 84% probability, with 11 out of 15 Wall Street Journal experts forecasting a rate cut. After the pair soared to 1.3735, the… Read full author’s opinion and review in blog of #LiteFinance

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