The Canadian Dollar (CAD) gained around one-quarter of one percent against the Greenback on Friday, testing higher but still firmly entrenched in a consolidation pattern that kicked off in mid-December. The US Dollar is softening across the board to wrap up a largely unremarkable trading week, rather than the Loonie finding any intrinsic bidding pressure, implying that bullish momentum is unlikely to be sustained.The Bank of Canada (BoC) is poised to deliver another quarter-point rate cut next week, while the Federal Reserve (Fed) is broadly anticipated to stand pat on interest rates through the first half of the year. With USD/CAD’s interest rate differential set to widen even further, it is unlikely that FX markets will find much reason to bid up the Loonie after both central banks make their rate call appearances, both scheduled for next Wednesday. Daily digest market movers: CAD gains thin ground on upshot in risk sentiment
Canadian Dollar price forecastUSD/CAD’s consolidation phase continues to grind sideways as Loonie traders struggle to push into either direction decisively. Price action remains constrained around the 1.4400 handle, though the CAD frequently tests into fresh multi-year lows.The pair’s last bullish phase has truly run out of gas as the 50-day Exponential Moving Average (EMA) rises into 1.4250, but signs of a technical turnaround remain absent. Near-term bids remain constrained by a technical floor priced in at the 1.4300 handle. USD/CAD daily chart 
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