31 Jul 2015
USD/CAD could test 1.37 in H1 2016 – TDS
FXStreet (Edinburgh) - According to strategists at TD Securities, USD/CAD could appreciate to 1.37 during the first half of next year.
Key Quotes
“The trend is your friend”.
“Risks are skewed towards a weaker CAD, especially in the short-term, as the economy undergoes a structural re-alignment following the unwind of the commodity supercycle”.
“The BoC will prefer to steer the currency lower to aid non-energy exports”.
“In appreciation of this, we look for a peak at 1.37 in H1-2016 before grinding lower in H2 when crude prices should glide higher”.
Key Quotes
“The trend is your friend”.
“Risks are skewed towards a weaker CAD, especially in the short-term, as the economy undergoes a structural re-alignment following the unwind of the commodity supercycle”.
“The BoC will prefer to steer the currency lower to aid non-energy exports”.
“In appreciation of this, we look for a peak at 1.37 in H1-2016 before grinding lower in H2 when crude prices should glide higher”.