Further moderate CAD recovery potential in the medium term – Commerzbank

Market news

21 July 2023

Further moderate CAD recovery potential in the medium term – Commerzbank

Recently, the Canadian Dollar has been able to make up some lost ground. Economists at Commerzbank analyze Loonie's outlook.

EUR/CAD should reflect the interim EUR strength expected

We see further limited CAD recovery potential against the USD due to the robust economy and a hawkish BoC. CAD should benefit if the interest rate differential between the Fed and the BoC narrows or turns positive in the medium term.

EUR/CAD should reflect the interim EUR strength we expect.

Source: Commerzbank Research

See – USD/CAD: Further BoC tightening could lead to a gradual decline – SocGen

EUR/USD Price Analysis: The loss of 1.1100 could spark a deeper drop

USD Index Price Analysis: Further gains target the 102.60 zone

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.