USD/CAD should continue to fall – SocGen

Market news

16 February 2024

USD/CAD should continue to fall – SocGen

Economists at Société Général analyze how the USD/CAD pair reacted to past Federal Reserve rate decisions and discuss if it could repeat the same performance this time.

USD/CAD peaked above 1.3600 after the Fed ended hiking cycle in December 2018

The USD/CAD pair peaked above 1.3600 just after the end of the last Fed hiking cycle in December 2018.

The US Dollar traded down to Canadian Dollar at 1.2600 as the Fed eased in 2019. A repeat is possible.

See: USD/CAD to drop towards 1.2800 by year-end – Scotiabank

EUR/USD range seen locked between 1.0500-1.1000 area over the upcoming year – Nordea

Gold Price Forecast: Potential for further XAU/USD corrections to be limited – Commerzbank

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