# Oversold loonie set to rally. Plus, why the TSX is set to outperform Wall Street - The Globe and Mail

> BofA strategist Howard Du says the Canadian dollar, down 3.3% since mid-July near 74 US cents, is oversold and expects a rally to 76 cents by year-end. He attributes recent weakness to tighter financial conditions and global risk-off sentiment rather than oil or bond yields.

- Date: 2023-08-30 · published 2023-08-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34816-oversold-loonie-set-to-rally-plus-why-the-tsx-is-set-to-outperform-wall-street
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A forecast loonie rally would raise the cost of Canadian-origin feed ingredients for US buyers, while the currency move is driven mainly by financial conditions rather than feed fundamentals.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/investment-ideas/article-oversold-loonie-set-to-rally-plus-why-the-tsx-is-set-to-outperform/

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