The USD/CAD currency pair will continue to rise in the medium term, according to the weekly chart. The U.S. economic outlook is healthy according to the recent economic data. According to the most recent forecast released at the Federal Open Market Committee meeting on March 20, 2018, U.S. GDP growth will rise to 2.7 percent in 2018, 2.4 percent in 2019, and 2.0 percent in 2020.
This estimate takes into account Trump's economic policies. On the other hand, the NAFTA (North American Free Trade Agreement) renegotiation has Canada increasingly worried about bilateral trade under Trump. Pending U.S. tariffs could suddenly shut down billions of dollars of Canadian exports of products like paper and steel pipe.
The main economic data of this week:
US GDP QoQ (+2.7% expectation);( +2.5% previously)
Canada GDP MoM (+0.1% expectation);( +0.1% previously)
YoY (+2.9% expectation);(+3.3% previously)