USD/CAD could rise to 1.36 in Q1, 2020 - JPMorgan

Omkar Godbole FXStreet Contributor

JPMorgan expects weak Canadian growth and the resulting dovish Bank of Canada (BOC) expectations to power USD/CAD higher to 1.36 in the first quarter of 2020.

The currency pair is currently trading at 1.3286, representing a 2.6% drop on a month-to-date basis.

Key points

Bank of Canada to cut rates in January.

The Canadian dollar is likely to underperform against low-yielding currencies like the Euro and Swiss Franc.

Canadian dollar could do well against cyclical G10 currencies like AUD which are facing their own internal headwinds.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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