USD/CAD: Stuck in neutral, but not for long, seen at 1.31 by year-end – CIBC USDCAD BOC Fed Banks Commodities
USD/CAD to reach 1.28 in 2024
“With markets almost fully priced for both the Bank of Canada and Federal Reserve over the rest of Q1, expect the Loonie to be stuck in neutral in the near term, with USD/CAD likely ending the quarter at 1.34.”“With global growth likely to receive a lift as central banks outside of North America start to normalize policy rates, and higher commodity prices benefitting Canada’s export sector, look for USD/CAD to reach 1.28 in 2024.
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