Canadian Greenback Forecast:
- As USD/CAD negotiates the 200-day shifting common to the topside, Canadian Greenback energy could return and drive the pair decrease
- A slew of upcoming occasions on the financial calendar posses the potential to spur volatility within the pair
- Inquisitive about longer-term trades? Try our Free Quarterly Forecasts for the Canadian Greenback, Gold, Dow Jones and extra.
Canadian Greenback Worth Forecast: USD/CAD Power Could Fade
USD/CAD has loved a 0.75% climb in August because the US Dollar prolonged its rally versus the Canadian Greenback after bottoming out in mid-July. Whereas the elemental drivers between the 2 North American currencies are in fixed flux, USD/CAD should negotiate the 200-day shifting common whereas RSI creeps nearer to overbought territory. The mix of topside boundaries and potential for basic catalysts – resulting in heightened volatility across all CAD pairs – within the week forward may spark a reemergence of Canadian Greenback energy that might…