- Analytics
- News and Tools
- Market News
- USD/CAD to plummet towards 1.25 in the next year - NBF
USD/CAD to plummet towards 1.25 in the next year - NBF
FXStreet notes that the Canadian dollar, after a difficult week in the run-up to the U.S. election, has regained all the ground it lost against the greenback and is trading near its pre-pandemic level of about 1.30 to the USD. An easing of protectionist tensions between Washington and its allies coupled with the imminence of a new vaccine means that the Canadian dollar will strengthen sooner than that envisioned in the National Bank of Canada’s previous baseline scenario, which assumed vaccine availability in the second half of 2021.
“The Canadian domestic economy is likely to remain well-supported by generous fiscal stimulus and by the increase in immigration quotas announced by Ottawa on the 30th of October in support of the recovery.”
“The better-than-expected performance of the Canadian economy, coupled with the easing of financial stress, led the Bank of Canada to recalibrate its QE asset-purchase program to $4 billion a week from $5 billion a week. With this backdrop and the good news on the vaccine front, we see the CAD strengthening more than previously anticipated in the months ahead.”
“Our new target is $1.25 to the USD in 2021.”
© 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
