USD/CAD Price Analysis: CAD Slips on Weak Factory Activity

<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" fetchpriority="high" 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 loonie weakened due to weak factory activity in Canada. Market expectations for Fed rate cuts in 2024 have reduced. Oil prices declined due to interest rate fears and reduced tensions in the Red Sea. The USD/CAD price analysis paints a bullish picture as we launch into the 2024 trading landscape. The Canadian dollar’s descent…</p>
<p>The post <a href="https://www.forexcrunch.com/blog/2024/01/03/usd-cad-price-analysis-cad-slips-on-weak-factory-activity/">USD/CAD Price Analysis: CAD Slips on Weak Factory Activity</a> appeared first on <a href="https://www.forexcrunch.com">Forex Crunch</a>.</p>