USD/CAD is trading around the levels of late August and early September. Economists at ING analyze the pair’s outlook. CAD still struggling to shine U
SD/CAD should remain primarily driven by non-Canadian factors: the USD performance on the back of US data releases, geopolitical events and the connected implications for commodity prices and risk sentiment.
While we still expect a turn lower in the pair on the back of a broad-based USD decline from the first quarter of 2024, we maintain a neutral bias into December, with only some potential downside risks on the back of seasonal USD weakness into year-end.
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