The Canadian dollar is on the back foot, sliding alongside the prices of oil. What’s next for the loonie? The team at CIBC weighs in: Here is their view, courtesy of eFXnews: The following is the weekly outlooks for the CAD as provided by CIBC World Markets. We started off the week lowering our C$ forecast, in large part due to the effects of the tumbling oil price. Recent developments cement the BoC as firmly behind the Fed in the expected timing of first hikes, and though sentiment might paint Poloz as a dove in Canada, he might not be when compared to what’s occurring across the Atlantic. The Norges Bank has recently cut rates due to “softening” activity in the energy sector. Furthermore, the Nokkie has already fallen much further than the loonie, even if the price that Norwegians are selling their oil hasn’t fallen as much as what’s been seen in Canada. If that’s any guide, look for more C$ weakness ahead. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD, GBP/USD, USD/JPY Pivot Points, TA – Dec. 15 John Benjamin 8 years The Canadian dollar is on the back foot, sliding alongside the prices of oil. What's next for the loonie? The team at CIBC weighs in: Here is their view, courtesy of eFXnews: The following is the weekly outlooks for the CAD as provided by CIBC World Markets. We started off the week lowering our C$ forecast, in large part due to the effects of the tumbling oil price. Recent developments cement the BoC as firmly behind the Fed in the expected timing of first hikes, and though sentiment might paint Poloz as a dove in Canada, he might not be… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.