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BMO Capital Markets' FX strategist said the Canadian dollar could fall to around 69 US cents as US growth outperforms Canada and rate policy diverges. He argued that interest rate expectations now drive currency markets more than geopolitics or energy prices.
He also expected the Fed to raise rates before cutting them.
A forecast of further loonie weakness, driven by Fed hike expectations, implies continued upward pressure on USD/CAD. This would make Canadian oilseed exports cheaper for dollar-based buyers.
bnnbloomberg.caBNN Bloomberg Opens in new windowJun 26, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
