A capital spillover from the US dollar to its Canadian counterpart amid a decelerating US economy and expectations of the Fed’s monetary expansion dragged USDCAD quotes down. However, the loonie will have to pay the price for its August rally in September. Let’s discuss this topic and make a trading plan.
Highlights and key points
The S&P 500 rally and the greenback selling in August boosted the loonie.
September is the worst month for US stock indices.
Coupled with the continuing BoC rate cut cycle, the USDCAD pair risks starting an upward correction.
The pair may reach 1.359 and 1.364…. Read full author’s opinion and review in blog of #LiteFinance
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