Home USD/CAD Set to Fall as Carney Sees More Rises in
Forex Bits

USD/CAD Set to Fall as Carney Sees More Rises in

Mark Carney, the governor of the Bank of Canada, pointed out that the rise in commodity prices isn’t just part of the economic cycle, but a significant change that has a good basis. He sees the boom in commodity prices lasting for years.

Carney also said:

One challenge for Canada, a major producer of oil, gas, grains and metals, is to rebalance trade and investment away from its top buyer, the United States.


Needless to say, this statement is very hawkish, and will support the Canadian dollar at the wake of the new week. This will settle worried loonie bulls that just saw Canada’s parliament dissolve and fresh elections awaiting the country in May.

For technical levels and upcoming events, see the Canadian dollar forecast.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.