The Canadian economy continues to be relatively strong, and this is reflected in the value of the loonie, which gradually rose. The big drop in the price of oil during July had a relatively minimal effect on the C$. However, every headline from Europe moves the currency, like all risk currencies. Employment is rising: In recent months, Canada’s work force has been on the rise, even if it slowed a bit in May, the situation is far better than in the US. Economy is growing: Canada’s economy continued growing also in April, the first month of Q2, by 0.3%. This is about the time that the US slowdown began. So, Canada continues doing relatively well. Toronto housing bubble: The Canadian authorities began recognizing that the rise in house prices is not healthy, and singled out Toronto. The bubble is probably not limited to Toronto and could endanger the whole economy. However, at least there’s awareness. US demand: Despite enjoying a healthy economy so far, the slowdown in the US could weigh on Canada and its dollar as well. Currently, the slowdown in the US isn’t that bad, but if things get worse, this is an important factor to watch. All in all, Canada remains strong and USD/CAD parity could be challenged again. A lot depends on the upcoming job report in Canada, and much less on the price of oil. This article is part of the Forex Monthly Outlook. You can download it by joining the newsletter in the form below, which appears on any article on 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 Opinions share Read Next Forex Weekly Outlook July 23-27 Anat Dror 9 years The Canadian economy continues to be relatively strong, and this is reflected in the value of the loonie, which gradually rose. The big drop in the price of oil during July had a relatively minimal effect on the C$. However, every headline from Europe moves the currency, like all risk currencies. Employment is rising: In recent months, Canada's work force has been on the rise, even if it slowed a bit in May, the situation is far better than in the US. Economy is growing: Canada's economy continued growing also in April, the first month of Q2, by 0.3%. This… Top 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.
