Forex Flash: USD/CAD potential decline to 0.96 year-end – Scotiabank

FXstreet.com (Barcelona) - The Loonie is losing some ground against its neighbour on Wednesday, navigating the region of 1.0030 ahead of the FOMC gathering due later and November GDP figures in the Canadian economy on Thursday. In the view of Camilla Sutton, Chief Currency Strategist at Scotiabank, a bearish tone in today's meeting should help the CAD.

"Today's retracement is on the back of broader weakness from the nonEuropean triple A currencies& We view US QE programs as a major USD weight. Accordingly, we have made no change to our yearend USDCAD target of 0.96 (CAD appreciation)", concluded Sutton.