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US dollar/Canadian dollar analysis and forecasts: 12th January 2009
Industry will be in focus Please add this page to your list of favourites
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Market analysis
The Canadian economy will remain vulnerable in the short term with a particular focus on the industrial sector as shipments to the US continue to weaken.
The Bank of Canada will consider further interest rate cuts, but in relative terms the fundamental should offer some support to the currency
There will continue to be a strong influence from commodity prices and the Canadian dollar will gain some support from hopes that the global economy will post some recovery from later in 2009.
In this environment, a slight underlying Canadian dollar advance is realistic over the next three months.
Risk factors:
A rally in oil prices would underpin the Canadian currency.
Forecasts:
| Currency | Spot (12-01) | 1-month forecast | 3-month forecast | 6-month forecast |
| US$/CAD | 1.1980 | 1.1650 | 1.1300 | 1.2200 |
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For Sterling/Canada forecasts, please see Sterling cross rates