Goldman Sachs forecasts that the Bank of Canada is to cut interest rates by 50 basis points in its December meeting versus prior forecast of 25 basis points.

• Forecasts BOC will continue to cut her interest rates until reaching a terminal rate of 2.25% in June 2025 versus prior forecast of 2.5%

The USDCAD moved above the 2022 high price of 1.3577 on Wednesday. In continue to run to the upside yesterday reaching a high price of 1.4064.

The pair has extended the price to a high of 1.4071 in trading today which is a level since May 18, 2020.