Analysts at CIBC, explained that the loonie rallied significantly post trade agreement. They see USD/CAD moving back to the low 1.30’s during the third quarter 2019. Key Quotes: “Some investors with long C$ positions may have been slightly disappointed by the extent of the loonie’s posttrade agreement rally. Although the drop in USDCAD to 1.28 was broadly in line with our forecast, much of that has now being unwound.” “The Canadian dollar’s performance does, however, look more impressive on other crosses, hitting its highest level in more than a year against a basket of other currencies. As we’ve shown before, that could be a factor restricting further loonie appreciation.” “While trade with the US is key, Canadian companies have to compete against other global firms for market share. And a growing deficit with Europe has been important in Canada’s continued current account shortfall. So while the Canadian dollar will likely hold these levels through Q1 2019, we expect it to then weaken and USD/CAD to rise back to the low 1.30’s.” 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 Wall Street slumps as technology continues to underperfom FX Street 4 years Analysts at CIBC, explained that the loonie rallied significantly post trade agreement. They see USD/CAD moving back to the low 1.30's during the third quarter 2019. Key Quotes: "Some investors with long C$ positions may have been slightly disappointed by the extent of the loonie's posttrade agreement rally. Although the drop in USDCAD to 1.28 was broadly in line with our forecast, much of that has now being unwound." "The Canadian dollar's performance does, however, look more impressive on other crosses, hitting its highest level in more than a year against a basket of other currencies. As we've… 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.
