Vlad RF
Member
USDCAD: the pair opened the week with an upward gap
The USDCAD rate soared to 1.4800 on Monday due to tariffs imposed by the US on goods from Canada and other countries over the weekend. Discover more in our analysis for 3 February 2025.
USDCAD forecast: key trading points
The Canadian dollar plunged sharply on Monday after US President Donald Trump introduced new tariffs on major trading partners last weekend. The US imposed 25% tariffs on goods from Mexico and Canada and 10% tariffs on imports from China.
In response, Canada announced retaliatory tariffs, and Mexico signalled that it would consider introducing its own duties on US goods. China, in turn, said it intended to file a WTO case. Investors reacted negatively to growing trade tensions, with the US dollar rising and global stock index futures declining.
Read this article on RoboForex website - USDCAD Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
The USDCAD rate soared to 1.4800 on Monday due to tariffs imposed by the US on goods from Canada and other countries over the weekend. Discover more in our analysis for 3 February 2025.
USDCAD forecast: key trading points
- The US imposed 25% tariffs on Canadian goods
- Current trend: a strong uptrend
- USDCAD forecast for 3 February 2025: 1.4700 and 1.4900
The Canadian dollar plunged sharply on Monday after US President Donald Trump introduced new tariffs on major trading partners last weekend. The US imposed 25% tariffs on goods from Mexico and Canada and 10% tariffs on imports from China.
In response, Canada announced retaliatory tariffs, and Mexico signalled that it would consider introducing its own duties on US goods. China, in turn, said it intended to file a WTO case. Investors reacted negatively to growing trade tensions, with the US dollar rising and global stock index futures declining.
Read this article on RoboForex website - USDCAD Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
