USDCAD_Long/Mid_term_forecast

17 Mar 2019

USDCAD long to mid term forecast indicates a bullish trend. Current expectations are that US factory output is going to experience a slowdown; however I am not sure whether the data set on March 19 is going to reveal that. Regarding the Canadian inflation data, definitely expect to see inflation come down. Overall, I feel that the Canadian economy is going to come out weaker - falling home sales, no oil pipeline and reduced resource demand along with heightened trade and political tensions with US and China is going to affect the economy negatively propelling it down a recessionary path in the mid term. As a long term investor I am bullish on the USDCAD. In the short term I expect the support to be tested in the near future before continuing upward through the ascending channel.