The Loonie Is Heading South
Peter Fletcher | Dec 23, 2018 01:27PM ET
Interesting Canada dollar chart: Convergence of the 1-, 2- and 3-year moving averages continues ($C 1.3603 - Friday). This combined with a widening US-CAD interest rate differential, a close to inverted CAD yield curve, near stagnant CAD export growth and lower oil prices, are very bearish for the currency. Look for a test weaker to the $C 1.3650 prior to year-end, the Loonie is heading south.
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