The CAD will leave the door open. Forecast as of 12.07.2023

Consumer prices slowed down in Canada, but the core inflation is far from the target, and the labor market remains hot, which creates a foundation for further rate hikes. Let’s discuss that and make a trading plan for USDCAD.

Weekly fundamental forecast for the Canadian dollar 

After the Bank of Canada raised the overnight rate in June, investors expect a 25-point rise in July too. As a result, borrowing costs will grow to a new 22-year high of 5% — that probability increased from 60% to 67% amid Canada's strong jobs statistics. Combined with an oil rally, that strengthens the… Read full author’s opinion and review in blog of #LiteFinance