Goldman Sachs: Energy Shock Backs Canadian Dollar

Goldman Sachs notes Canadian dollar resilience among G10 currencies despite softer domestic data and below‑expectation March inflation.
Bank of Canada likely to keep policy rate unchanged at the April meeting as employment stabilises with minimal year‑on‑year gain.
Analysts say oil‑price shock and CAD’s sensitivity to energy markets will support the currency, though USMCA uncertainty and risk‑sentiment shifts could cause underperformance.
CAD performance remains tied to commodity dynamics and dollar movements, with downside risk if commodity markets relax.