USD/CAD Forecast: Dollar Holds Near 6-Week High Ahead of GDP

<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>The fourth-quarter US gross domestic product will likely reveal a 2% annualized growth. On Wednesday, the Bank of Canada maintained its key overnight rate at 5%. Money markets fully anticipate a 25 basis point BoC rate cut in June. Thursday’s USD/CAD forecast hinted at bullish prospects, with the dollar standing resilient near a six-week high….</p>
<p>The post <a href="https://www.forexcrunch.com/blog/2024/01/25/usd-cad-forecast-dollar-holds-near-6-week-high-ahead-of-gdp/">USD/CAD Forecast: Dollar Holds Near 6-Week High Ahead of GDP</a> appeared first on <a href="https://www.forexcrunch.com">Forex Crunch</a>.</p>