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Dec 10 - 06:55 PM

CAD: Only Moderately Bullish On CAD N-Term - Credit Agricole

By eFXdata  —  Dec 10 - 03:00 PM

Credit Agricole CIB Research discusses CAD outlook over the coming weeks.

"We remain only moderately bullish on the CAD after its recent rally vs the USD. The currency should be supported by the recent recovery of the Canadian economy from the Covid-19 recession, which allowed the BoC to commit to keeping policy rates in positive territory," CACIB notes. 

"That said, the CAD could further emerge as the commodity-bloc underperformer in 2021, disadvantaged by changing US foreign and environmental policies in 2021 even as the BoC continues to rule out negative rates," CACIB adds. 

 

Source:
Crédit Agricole Research/Market Commentary

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