# FX  Analysis: The Worst Is Over for the Loonie - Desjardins

> Desjardins expects USD/CAD to trade in a 1.41 to 1.45 range over the next three months and sees the loonie appreciating over the medium term. The bank expects a shallow recession in both Canada and the US starting in Q2 due to trade policy.

- Date: 2025-03-27 · published 2025-03-27T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/25826-fx-analysis-the-worst-is-over-for-the-loonie-desjardins
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

The currency and growth outlook matters for Canadian export competitiveness and livestock and feed demand, but this is a forecast rather than a new supply or demand event.

## Read by commodity

- EURUSD: neutral
- USDCAD: neutral
- USDJPY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2026-09-30 | [Euro heads for biggest monthly loss of 2026: What are the reasons?](https://feedsoft.ai/events/17695-euro-heads-for-biggest-monthly-loss-of-2026-what-are-the-reasons.md) | -0.7% | -1.7% |
| EURUSD | 2020-03-13 | [The Monetary Policy Package: An Analytical Framework](https://feedsoft.ai/events/6273-the-monetary-policy-package-an-analytical-framework.md) | -3.4% | -1.4% |
| EURUSD | 2021-02-18 | [Euro-Dollar Rate, the ECB's Currency Concerns and Two Competing Outlooks for 2021](https://feedsoft.ai/events/48855-euro-dollar-rate-the-ecb-s-currency-concerns-and-two-competing-outlooks-for-2021.md) | +0.8% | -1.1% |
| EURUSD | 2021-01-28 | [FX: Challenging our bearish dollar forecast \| articles \| ING THINK](https://feedsoft.ai/events/49343-fx-challenging-our-bearish-dollar-forecast-articles-ing-think.md) | -0.6% | +1.1% |
| EURUSD | 2021-08-17 | [There’s a non-pandemic catalyst set to drive the dollar, pound and euro for the rest of 2021 - MarketWatch](https://feedsoft.ai/events/45808-there-s-a-non-pandemic-catalyst-set-to-drive-the-dollar-pound-and-euro-for-the.md) | -0.4% | +0.4% |

## Sources

- desjardins.com: https://www.desjardins.com/en/savings-investment/economic-studies/fx-analysis-march-2025.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.