Economists at RBC Economics expect the USD/CAD pair to see a range-bound movement in the coming days and weeks.
Year-end target for USD/CAD retained at 1.38
USD/CAD’s trajectory seems uncertain in the near term, likely to be influenced by developments around the USD. The pair will see a range-bound movement in the coming days and weeks.
We maintain our year-end target for USD/CAD at 1.38. This forecast hinges on a mild recovery in the USD towards the end of the year.
A slowdown in the US would put downward pressure on USD/CAD, while a global downturn would likely support the pair.
Source: https://www.fxstreet.com/news/usd-cads-trajectory-seems-uncertain-in-the-near-term-rbc-economics-202308181346