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CIBC economists said the Canadian dollar is clearly overvalued and expect the U.S. dollar to lose some of its safe-haven bid by the end of 2020. They forecast USD/CAD at 1.33, which would leave the loonie slightly stronger by year-end.
They also said a brief gain for the loonie could come from political turmoil in the U.S. ahead of the presidential election.
A forecast of a firmer loonie would make Canadian-origin commodities more expensive in U.S. dollar terms, which may weigh on export competitiveness. The view is a forecast rather than a confirmed market move.
financialpost.comYadullah HussainSep 30, 2020Not 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.
