Loonie Strengthens Against Greenback. Forecast as of 28.08.2024

The Canadian economy is less robust than the US economy, the labor market is experiencing a more pronounced cooling, and the Bank of Canada has already reduced the overnight rate twice and is unlikely to cease its easing cycle at this stage. What is the reason for the decline in USDCAD quotes? Let's discuss this topic and make a trading plan.Highlights and key points Oil prices or the Trump trade have nothing to do with the USDCAD decline. The BOC overnight rate is expected to fall to 3% by mid-