Goldman Sachs notes Canadian dollar resilience among G10 currencies despite softer domestic data and lower March inflation.
The firm expects the Bank of Canada to keep policy rates on hold at the April meeting as inflation eases.
USMCA uncertainty ahead of the July 1 deadline may weigh on the CAD, but energy‑price dynamics remain the primary driver.
Goldman warns CAD could underperform if risk sentiment improves and commodity markets soften, given its high oil‑price sensitivity.