Canadian Dollar Expected to Remain Rangebound Despite Signs of Economic Recovery
Despite robust signs of recovery, including a 0.3% jump in May GDP, the Canadian dollar is widely expected to enter a holding or rangebound pattern over the coming months. Market movements are currently balanced by conflicting forces: positive domestic data supports the CAD, yet lower global oil prices and a softer US Dollar limit its potential upside, keeping pressure on the currency pair.
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Bank of Canada expects economic rebound, decelerating inflation rate but risks remain
A summary of deliberations that led to the council’s decision to hold interest rates steady at 2.25 per cent shows that members discussed Canada’s sluggish economy. Gross domestic product had not ...
USD/CAD trades little changed as both the US Dollar and the Canadian Dollar face headwinds. Lower Oil prices weigh on the commodity-linked Canadian Dollar. A softer US Dollar limits the pair's upside ...
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