Loonie Faces Double Whammy. Forecast as of 24.07.2024

The growing prospect of Donald Trump's victory in the US presidential election has triggered a wave of sell-offs in commodity currencies. Protectionist policies will hurt China. Meanwhile, the Bank of Canada is mulling interest rate cuts. Let's discuss these issues and make a trading plan for the USDCAD pair.Highlights and key points The USDCAD pair has been rising for 9 out of 10 trading sessions. The rally is based on the commodity market rout due to the Trump trade. The BoC rate cut cycle wil