The recent downgrade by Fitch for Government of Canada debt from AAA to AA+ coupled with dampening demand recovery for oil are likely to foster a further loonie depreciation. Therefore, economists at the National Bank of Canada target USD/CAD at 1.38 in the short-term. Key quotes “It is unfortunate that the Fitch downgrade occurred at a time when of a potential of dampening demand for oil because of tightening lockdown restrictions in some large US states because of Covid-19 cases.” “We cannot ignore the fact that despite the new Canada-US-Mexico trade agreement, the US is contemplating imposing tariffs on Canadian aluminum.” “We set our three-month target for the USD/CAD pair at 1.38.” 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 EUR/JPY Price Analysis: Upside faltered around 122.00 FX Street 3 years The recent downgrade by Fitch for Government of Canada debt from AAA to AA+ coupled with dampening demand recovery for oil are likely to foster a further loonie depreciation. Therefore, economists at the National Bank of Canada target USD/CAD at 1.38 in the short-term. Key quotes “It is unfortunate that the Fitch downgrade occurred at a time when of a potential of dampening demand for oil because of tightening lockdown restrictions in some large US states because of Covid-19 cases.” “We cannot ignore the fact that despite the new Canada-US-Mexico trade agreement, the US is contemplating imposing tariffs on Canadian… 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.
