USD/CAD: a bounce for the Canadian dollar

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USD/CAD: a bounce for the Canadian dollar

National Bank of Canada strategists are counting on the Canadian dollar's recovery after the Canadian dollar had its worst month in a year ago.

Key quotes

The 2% depreciation of the Canadian dollar against the US dollar in January was the worst monthly performance for Alkoni since December 2018.”

We remain suspicious of the need to push Canadian real interest rates into negative territory. If we are correct about Bank of Canada interest rates unchanged through 2020, that could give a boost to Lone thinking that markets are currently pricing in at least one rate cut before the end of the year. “

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