- Analytics
- News and Tools
- Market News
- USD/CAD: Forecast downgraded to 1.38 in 1-month and to 1.42 in 3-months – Rabobank
USD/CAD: Forecast downgraded to 1.38 in 1-month and to 1.42 in 3-months – Rabobank
FXStreet notes that the Bank of Canada's (BoC) rate decision on 3 June will mark the first day on the job and the first rate decision for the new Governor Tiff Macklem as he takes over from Governor Poloz. Economists at Rabobank believe that the policy rate will be left at 0.25% while have revised down the USD/CAD 3-month forecast to 1.42.
“We expect the Bank of Canada to leave the policy rate unchanged at 0.25% on Wednesday, June 3rd. This is fully expected by both analysts (Bloomberg survey) and traders (CAD OIS). We expect the policy rate to remain at 0.25% at least through 2020 and 2021.”
“The break below 1.3830 in USD/CAD has broken the recent range but we are reticent to call the pair trading much lower from here despite the equity rally looking to have legs in the short-term.”
“We now expect USD/CAD to trade at 1.38 on a 1-month horizon 1.42 on a 3-month horizon down from 1.44 and 1.46 respectively.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
