View full page at forexfactory.com

 

Loonie to advance toward pre-COVID levels if stocks, oil keep rising

From reuters.com

The Canadian dollar is likely to gain over the coming year if a potential economic recovery from the coronavirus crisis boosts stocks and the price of oil, assets closely tracked by the currency, toward pre-pandemic levels, a Reuters poll showed. Trading at about 1.358 per U.S. dollar, or 73.64 U.S. cents, on Wednesday, the Canadian dollar was expected to be slightly weaker at 1.36 in three months, but to then climb to 1.33 in a year. That would be a gain of around 2.06% and stronger than the 1.35 forecast in the June poll. The outlook for the Canadian dollar “is grounded in a continued recovery in oil prices, number ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis