Don't undervalue the loonie. Forecast as of 01.09.2023

When the Canadian dollar moves in the direction opposite to the oil price direction, we wonder if the CAD has been valued right. The USDCAD's rally looks excessive amid the strong oil market, but the oil market is not the only factor in the loonie's price. Let’s discuss it and make a trading plan.

Fundamental forecast for the Canadian dollar for today 

The Canadian dollar is noticeably weak despite oil growth in July-August. Moreover, the comparable rise in US and Canadian bond yields indicates that the loonie is undervalued. The USDCAD is growing on such factors as the end of… Read full author’s opinion and review in blog of #LiteFinance