Strategists at the National Bank of Canada are banking on a recovery for the Canadian dollar after the loonie had its worst month since one year ago. Key quotes “The Canadian dollar’s 2% depreciation against the U.S. dollar in January was the loonie’s worst monthly performance since December 2018.” “We remain skeptical of the need to push Canadian real interest rates further into negative territory. If we’re correct about the Bank of Canada holding rates unchanged through 2020, that could give a boost to the loonie considering markets are currently pricing at least one rate cut before year-end.” “We have pushed to Q2 our target of 1.28 for USD/CAD.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Nonfarm payrolls well above the consensus – TDS FX Street 2 years Strategists at the National Bank of Canada are banking on a recovery for the Canadian dollar after the loonie had its worst month since one year ago. Key quotes “The Canadian dollar’s 2% depreciation against the U.S. dollar in January was the loonie’s worst monthly performance since December 2018.” “We remain skeptical of the need to push Canadian real interest rates further into negative territory. If we’re correct about the Bank of Canada holding rates unchanged through 2020, that could give a boost to the loonie considering markets are currently pricing at least one rate cut before year-end.” “We have… 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.
