USD/CAD Weekly Forecast: Surging Oil Supports Canadian Dollar

<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" 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>Inflation in Canada came in higher than expected, dashing hopes for early rate cuts by the BoC. The US economy remained resilient, with robust retail sales. The Canadian dollar strengthened as oil prices surged. The USD/CAD weekly forecast paints a slightly bearish picture, with the Canadian dollar riding the wave amid surging oil prices. Ups…</p>
<p>The post <a href="https://www.forexcrunch.com/blog/2024/01/21/usd-cad-weekly-forecast-surging-oil-supports-canadian-dollar/">USD/CAD Weekly Forecast: Surging Oil Supports Canadian Dollar</a> appeared first on <a href="https://www.forexcrunch.com">Forex Crunch</a>.</p>