23 Jan 2014
Flash: Three month target 1.1200 - Rabobank
FXstreet.com (Guatemala) - Jane Foley, Senior Currency Strategist noted that in recent months, the high levels of household debt have been constraining the dovish tenancies of the BoC.
Key Quotes:
“Yesterday, however, the BoC forecast a soft landing for the housing market and a stabilisation of household indebtedness related to income”.
“In the market’s eye, this statement will have increased the rate cut risk further. This week, USD/CAD flew past our USD/CAD1.10 target”.
“We remain bearish of the CAD for H1 and have moved higher our 3 mth forecast to 1.12”.
Key Quotes:
“Yesterday, however, the BoC forecast a soft landing for the housing market and a stabilisation of household indebtedness related to income”.
“In the market’s eye, this statement will have increased the rate cut risk further. This week, USD/CAD flew past our USD/CAD1.10 target”.
“We remain bearish of the CAD for H1 and have moved higher our 3 mth forecast to 1.12”.