USD/CAD should continue to fall – SocGen

Market news

14 July 2023

USD/CAD should continue to fall – SocGen

The Canadian Dollar may see further gains, economists at Société Générale report.

USD/CAD could repeat a move down to 1.26

The USD/CAD pair should continue to fall (very slowly).

USD/CAD peaked above 1.36 just after the end of the last Federal Reserve hiking cycle in December 2018.

The US Dollar traded down to CAD 1.26 as the Fed eased in 2019. A repeat is possible.

See – USD/CAD: A downside overshoot to 1.28 through Q3 looks to be a growing risk – Scotiabank

USD/CHF gauges cushion below 0.8600, downside seems favored despite marginal recovery in USD Index

US: Inflation rose less than expected in June – UOB

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