USD/CAD to enjoy further upside – Rabobank

The Canadian Dollar (CAD) sat in the middle of the pack when it came to performance last year. Economists at Rabobank analyze Loonie’s outlook.

Boring picture

The beginning of the year has been characterised by a move from the 1.3200 region back up above 1.3400, and we expect further upside, with USD/CAD likely to trade above 1.3500 before the end of January.

A glance at our USD/CAD forecast for the year paints a rather boring picture with our base case being for similar price action as last year.