Goldman Sachs says Canadian dollar outperforms G10 currencies due to ongoing energy shock and strong oil price correlation.
The firm expects near‑term resilience for CAD as oil export demand to the U.S. and China remains high.
Bank of Canada’s recent dovish stance removes potential hawkish tailwind but is not seen as a major headwind for CAD/USD.
Risks include a shift to risk‑off sentiment boosting the US dollar and a relaxation in commodity markets.