Analysts at Citibank forecast the USD/CAD pair at 1.31 over 0-3 months, at 1.28 in 6-12M and at 1.22 in the long term. Key Quotes: “Although the October Bank of Canada (BoC) was more dovish than expected with the Bank’s 2020/21 GDP forecasts lowered and an emphasis placed on the downside risks of trade wars, the domestic Canadian economy remains resilient and the BoC on hold which support CAD.” “Global downside still the main risk which may lead BoC cut rate.” “Governor Poloz’s denial of insurance easing implies cuts will only come with a material worsening of the external outlook. CAD supportive given Canadian rates currently price an almost 100% probability of a 25bp cut in 6 months time.” “USDCAD has broken good resistance around 1.3275. Good resistance in the 1.3348-1.3383 range looks likely to be tested. Next pivotal support at 1.3016.” 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 Cryptocurrencies price prediction: Bitcoin, Ripple & TRON – American Wrap – 26 November FX Street 3 years Analysts at Citibank forecast the USD/CAD pair at 1.31 over 0-3 months, at 1.28 in 6-12M and at 1.22 in the long term. Key Quotes: "Although the October Bank of Canada (BoC) was more dovish than expected with the Bank's 2020/21 GDP forecasts lowered and an emphasis placed on the downside risks of trade wars, the domestic Canadian economy remains resilient and the BoC on hold which support CAD." "Global downside still the main risk which may lead BoC cut rate." "Governor Poloz's denial of insurance easing implies cuts will only come with a material worsening of the external… 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.
