Global Perspectives: Final Currency Thoughts for 2019 Part 2

Foreign Exchange - Global Perspectives
David Atkinson and Tomoko Iwakawa
Final Currency Thoughts for 2019 Part 2
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As we stand on the edge of 2019 we wanted to end the year by looking at the currencies of the U.S. and Canada — "home currencies" in our minds.
The Canadian dollar continues to be driven primarily by oil prices and that country's relationship with the U.S. We think oil supply cuts will support energy prices and thus the Canadian dollar. Relative interest rate differentials and the health of the U.S. economy also play a role.
Any slowdown in the U.S. would obviously weaken the Canadian loonie. The real question is whether it would weaken more than the U.S. dollar. Overall we see the Canadian dollar more or less range-bound for most of 2019.
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