Forex Trading Forecast: Canadian Dollar

Currency trading with the loonieThe forex trading forecast for the Canadian dollar could be seeing an upside in the coming weeks. While the Canadian dollar has backed away from parity with the U.S. dollar recently (it is still conceivably within striking distance), things could be changing a bit.

With the U.S. economy weighing on the U.S. dollar in currency trading with the loonie, and with oil prices rising, Canada’s dollar could see additional strength, reports Bloomberg:

“It’s going to be the financial market and commodities that do the driving,” said Eric Lascelles, a strategist at TD Securities in Toronto. “There may be some more upside in the Canadian dollar.”

See Also

Forex Trading with the Canadian Dollar
FX trading on the currency market

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