Usdcad — Forecasts & Attribution

Analysis date: 2026-03-13

Price Attribution

Price Attribution Snapshot — USD/CAD — 2026-03-13T18:01:00Z

PAT001

FieldValue
InstrumentUSD_CAD
Price1.37326
CurrencyUSD
UnitCAD
Timestamp2026-03-13T18:01:00Z
TriggerScheduled point-in-time snapshot
Trigger Ref-
idcomponentcategoryvaluepercentbasistrendconfidencereferences
PA001Oil price surge (Hormuz blockade)fundamental-premium-0.480635%Brent at ~$101 due to Hormuz blockade removing 16+ mb/d; CAD highly correlated with oil (~0.7); direct positive impact on Canada's trade balancebearishhigh-
PA002Interest rate differential narrowingfundamental-premium-0.247218%Rate spread narrowed from ~200bp+ to ~125bp (Fed 3.50-3.75% vs BoC 2.25%); current level supports CAD vs prior wide differentialbearishmedium-
PA003War duration uncertaintyrisk-premium+0.206015%War expected to end in 2-4 weeks per Trump comments; risk of oil collapse and CAD reversal creates positive risk premium for USDbullishmedium-
PA004Oil-driven CAD inflowsdemand-pull-0.164812%Manifested outcome of oil surge; CAD strongest G7 currency; USD/CAD at 1-month low reflects accumulated positioningbearishhigh-
PA005US labor market weakeningfundamental-premium-0.10998%NFP miss (-92K) and unemployment jump (4.4%); increases probability of future Fed cuts, though currently constrained by sticky PCE inflationbearishmedium-
PA006Extreme CAD positioning (97th pctl)speculative-premium+0.08246%Crowded long CAD positioning creates asymmetric reversal risk; historically extreme positioning precedes mean reversionbullishmedium-
PA007US-Canada trade tensionsrisk-premium+0.05494%Structural uncertainty from Section 232/301 tariffs; USMCA July 2026 review is future risk; currently overshadowed by oil dynamicsbullishlow-
PA008IEA reserve releasesupply-disruption-0.02752%400M barrel release failed to sustainably lower prices; structural Hormuz disruption overwhelms reserve effect; minimal ongoing influencebearishlow-

Residual: +0.0600 Validation: Components sum to 1.3133 vs actual 1.37326 (net bearish factors: -1.0300, net bullish factors: +0.3433, implied base: ~0.6867)

Price Forecasts

idinstrumentforecastDatetargetDatetargetTimeframecompositePricecompositeLowcompositeHighcompositeConfidencestatusactualCloseerrorerrorPercentreferences
PF001USD_CAD2026-03-132026-03-172-4 trading days1.36731.3551.38mediumactive---EV001,EV010,EV011
PF002USD_CAD2026-03-132026-03-271-2 weeks1.3551.341.39lowactive---EV001,EV003,EV010
PF003USD_CAD2026-03-132026-03-183 trading days1.36731.34001.4000mediumactive---PAT001

PF001

trackmethodpredictedPricepredictedLowpredictedHighconfidenceweightreasoningreferences
fundamentalscenario-weighted1.361.341.38medium35Base case 55% at 1.3550-1.3650 anchors forecast; oil-driven CAD strength dominatesEV001,EV010
participantpositioning-flow1.371.3551.385medium25Extreme CAD longs (97th pct) create reversal risk; institutional flat suggests consolidationEV013
patterntechnical-level1.3651.3531.375medium20Range-bound structure with support 1.353, resistance 1.375; bearish bias within range-
regimeregime-model1.3651.351.38medium20Policy Divergence Range with Oil-Driven CAD Rally overlay; target 1.3650EV001,EV011

PF002

trackmethodpredictedPricepredictedLowpredictedHighconfidenceweightreasoningreferences
fundamentalscenario-weighted1.351.331.39low35War end timing (2-4 weeks) is key unknown; if oil stays high, CAD strength extends to 1.34-1.35EV001,EV003
participantpositioning-flow1.361.341.39low25Extreme positioning more likely to unwind over 2-week horizon; potential squeeze riskEV013
patterntechnical-level1.3551.3481.38medium20Range breakout likely over 2 weeks; bias toward downside test of 1.348 support-
regimeregime-model1.3551.341.39low20Regime transition possible if war ends; binary outcome around oil trajectoryEV001,EV003

PF003

trackmethodpredictedPricepredictedLowpredictedHighconfidenceweightreasoningreferences
fundamentalscenario-weighted1.36231.34001.4000medium35Base case (55%) targets 1.3550-1.3650 on continued oil strength; bear case (25%) targets 1.3400-1.3500 on oil spike above $110; bull case (20%) targets 1.3800-1.4000 if war ends and oil collapses. Key driver is Hormuz blockade sustaining oil prices and supporting CAD.fundamental/result.md
participantpositioning-flow1.37001.35301.3750medium25No dominant participant; market in equilibrium. Commercial hedgers provide structural floor at 1.353. Institutions appear flat, building positions ahead of directional catalyst. Higher-low sequence suggests slight bullish bias toward 1.375 range high.technical/participants.md
patterntechnical-level1.37501.35301.3970medium206-week range consolidation (1.353-1.375) confirmed. Ascending channel and higher-low sequence from March 9 suggest test of 1.375 resistance. Compression on H1 indicates imminent expansion. Breakout target 1.397 if 1.375 breaks; breakdown target 1.331 if 1.348 fails.technical/patterns.md
regimehistorical-analog1.36501.34801.3800medium20Policy Divergence Range archetype (85% alignment) with Oil-Driven CAD Rally overlay. Mean reversion to 1.365 mid-range most probable within validity window. Range established since January has contained multiple boundary tests. Invalidation at 1.3800 above or 1.3480 below.regime/result.md