Loonie to pause. Forecast as of 05.07.2023

If the Bank of Canada raised the overnight rate in June, this does not mean that it will do the same in July. Since then, Canada’s domestic data have deteriorated, which increases the risks of a pause in the rate hiking cycle. Let's talk about these topics and make up a trading plan.

Weekly Canadian dollar fundamental forecast

When the market loses confidence that the Bank of Canada will raise rates in July, the loonie loses value. The June rate hike to 4.75% surprised investors and sent down the USDCAD to the lowest levels since September 2022. However, the market… Read full author’s opinion and review in blog of #LiteFinance