# Why a major foreign bank thinks the Canadian dollar is still ‘the pick for us' - The Globe and Mail

> Societe Generale said the Canadian dollar remains its preferred commodity-linked currency, citing Chinese economic problems and the trade war as weighing on Australia and New Zealand more than Canada. CIBC forecast the loonie to fall toward 71.5 US cents by Q2 2021 and noted a December Bank of Canada cut could limit near-term strength.

- Date: 2019-09-20 · published 2019-09-20T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/57324-why-a-major-foreign-bank-thinks-the-canadian-dollar-is-still-the-pick-for-us
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Diverging currency forecasts add uncertainty to USD/CAD direction, which affects the cost of Canadian canola meal and other Canadian-origin feed ingredients for buyers.

## Read by commodity

- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/briefing/article-why-a-major-foreign-bank-thinks-the-canadian-dollar-is-still-the-pick/

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