- Analytics
- News and Tools
- Market News
- USD/CAD: Loonie's weakness unlikely to be sustained - MUFG
USD/CAD: Loonie's weakness unlikely to be sustained - MUFG
FXStreet reports that economists at MUFG Bank believe the CAD's recent sell-off looks overdone in the near term.
“In contrast to more marked weakness in the Canadian dollar recently, the price of oil is continuing to hold up better. The resilience of the price of oil is suggesting that Canadian dollar weakness is overdone in the near-term.”
“Prime Minister Justin Trudeau is poised to win a third term following yesterday’s snap election although his Liberal party is set to fall short of winning a majority. Even with another minority government, the early results suggest that the Liberals will have a stable government most likely backed by the left-leaning New Democratic Party. It would allow Prime Minister Trudeau to continue running loose fiscal policy to support the economic recovery.”
“The additional short-term spending is expected to provide more support for growth next year, and should encourage the BoC to continue tightening monetary policy as they remain on track to begin raising rates during the second half of next year.”
© 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
