Canadian Dollar Forecast: USD/CAD Climbs Ahead of FOMC Decision

  • Over the last two trading sessions, USD/CAD has posted a gain of nearly 0.8% as markets anticipate today's decision from the U.S. Federal Reserve. The Canadian dollar has begun to show a bearish bias in the short term, driven by growing demand for the U.S. dollar—both from the dollar's recent rebound and expectations surrounding the Fed.