USD/CAD Outlook: Loonie Gains Traction as Oil Rallies

<div><img width="400" height="267" src="https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags.jpg" class="type:primaryImage wp-post-image" alt="my USD/CAD forecast" style="margin-bottom: 15px;" decoding="async" srcset="https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags.jpg 400w, https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags-300×200.jpg 300w, https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags-150×100.jpg 150w" sizes="(max-width: 400px) 100vw, 400px" /></div>
<p>Oil rose after the US and the UK announced air and sea strikes on Houthi military targets in Yemen. US consumer prices rose in December, coming in 0.3% higher for the month. Traders estimate a 73.2% likelihood of the Fed initiating its first 25 bps cut in March. The USD/CAD outlook took a bearish turn…</p>
<p>The post <a href="https://www.forexcrunch.com/blog/2024/01/12/usd-cad-outlook-loonie-gains-traction-as-oil-rallies/">USD/CAD Outlook: Loonie Gains Traction as Oil Rallies</a> appeared first on <a href="https://www.forexcrunch.com">Forex Crunch</a>.</p>