Recently, the Canadian Dollar has been able to make up some lost ground. Economists at Commerzbank analyze Loonie's outlook.
EUR/CAD should reflect the interim EUR strength expected
We see further limited CAD recovery potential against the USD due to the robust economy and a hawkish BoC. CAD should benefit if the interest rate differential between the Fed and the BoC narrows or turns positive in the medium term.
EUR/CAD should reflect the interim EUR strength we expect.
Source: Commerzbank Research
See – USD/CAD: Further BoC tightening could lead to a gradual decline – SocGen
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