Excerpt from: Forex Forecast
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| April 13, 2010 | | USD/CAD pressured in currency trading | The forex trading forecast expects to see the loonie test parity with the U.S. dollar again rather soon. Right now, it appears that Canadian trade is returning to normal, while the U.S. experiences a trade gap.
This difference is putting pressure on USD/CAD in currency trading. Indeed, as the economy picks up, we could see another test of parity from the loonie, reports Kathy Lien in FX360:
Canada has now reported the fifth straight month of trade surpluses,
returning the natural to its natural trade behaviors. Automotive and
industrial exports were particularly strong but we think that in the
coming months, oil 
will be what keeps the surplus growing.
The weaker than
expected U.S. trade deficit and the stronger than expected Canadian
trade surplus could encourage USD/CAD to test parity once again.
| Topic Tags: CAD/USD, currency trading, forex trading, forex trading forecast, FX360, Kathy Lien, parity, U.S. dollar | |
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