USD/CAD's trajectory seems uncertain in the near term – RBC Economics

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18 August 2023

USD/CAD's trajectory seems uncertain in the near term – RBC Economics

Economists at RBC Economics expect the USD/CAD pair to see a range-bound movement in the coming days and weeks.

Year-end target for USD/CAD retained at 1.38

USD/CAD's trajectory seems uncertain in the near term, likely to be influenced by developments around the USD. The pair will see a range-bound movement in the coming days and weeks.

We maintain our year-end target for USD/CAD at 1.38. This forecast hinges on a mild recovery in the USD towards the end of the year.

A slowdown in the US would put downward pressure on USD/CAD, while a global downturn would likely support the pair.

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