I’m currently bullish on CAD, on the back of strong economic data from Canada. With solid 3% GDP growth in 2017, inflation near 2%, steady employment data and higher oil prices, the BoC expects that this data will warrant higher interest rates in the future.
On the negative side, there’s still the uncertainty around the impact of Trump’s trade politics on Canada. However, we’ve been seeing signs of tensions easing for the loonie, these past weeks.
Let’s look at the technicals: