Oil prices are still sitting at low levels, and the trend back to risk assets looks vulnerable, so analysts at CIBC Capital Markets don’t expect the loonie to hold onto that strength in the near-term. FXStreet’s analyst Joseph Trevisani also noted that the WTI raised but is not yet predicting a rapid economic recovery. Key quotes “As the reality of depressed equity earnings, and the limitations on the recovery by the potential for a second wave set in, that would see a stall in oil’s rebound, allowing USD/CAD to reach 1.41 by June and ending Q3 at 1.43.” “Looking ahead to the first half of 2021, we expect the loonie to strengthen alongside a more pronounced economic recovery, whose timing is likely dependent on the evolution of the virus and progress towards a vaccine.” “Look for USD/CAD to still be hovering around 1.41 by the end of next year, held back by the country’s trade imbalance.” 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 GBP/USD Price Analysis: The upside is likely to remain capped near 1.2200 confluence hurdle FX Street 3 years Oil prices are still sitting at low levels, and the trend back to risk assets looks vulnerable, so analysts at CIBC Capital Markets don’t expect the loonie to hold onto that strength in the near-term. FXStreet’s analyst Joseph Trevisani also noted that the WTI raised but is not yet predicting a rapid economic recovery. Key quotes “As the reality of depressed equity earnings, and the limitations on the recovery by the potential for a second wave set in, that would see a stall in oil’s rebound, allowing USD/CAD to reach 1.41 by June and ending Q3 at 1.43.” “Looking ahead… 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.
