Loonie goes along a narrow road. Forecast as of 26.10.2023

The Canadian dollar hit a 7-month low against the US dollar after the BoC scared investors by saying the likelihood of a soft landing had been reduced. Let us discuss the Forex outlook and make up a USDCAD trading plan for the week.

Monthly Canadian dollar fundamental forecast

The narrow road to the soft landing became even narrower. This statement from the Bank of Canada frightened the CAD bulls much more than the door opened to the resumption of the monetary tightening cycle and the shift in the expected time frame for inflation to reach the target from the middle… Read full author’s opinion and review in blog of #LiteFinance