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12 Mar 2015
USD/CAD still targets 1.3000 in the medium term – Westpac
FXStreet (Edinburgh) - Richard Franulovich, Strategist at Westpac, commented the pair could reach the key 1.30 level towards mid-2015.
Key Quotes
“Still very much focused on the topside for USD/CAD, with 1.30 on the radar ahead of mid-2015, even without BoC rate cuts”.
“Soggy growth updates for China and further firming in June 2015 Fed lift off odds should be enough to keep USD/CAD bid”.
“Neutral on most CAD crosses (ex EUR/CAD) until the BoC gives a clearer signal of its intentions, though suspect they will reintroduce an easing bias in coming meetings as the deflation of the energy patch bleeds into the broader economy”.
“CAD will be a good sell on most crosses in the not too distant future”.
Key Quotes
“Still very much focused on the topside for USD/CAD, with 1.30 on the radar ahead of mid-2015, even without BoC rate cuts”.
“Soggy growth updates for China and further firming in June 2015 Fed lift off odds should be enough to keep USD/CAD bid”.
“Neutral on most CAD crosses (ex EUR/CAD) until the BoC gives a clearer signal of its intentions, though suspect they will reintroduce an easing bias in coming meetings as the deflation of the energy patch bleeds into the broader economy”.
“CAD will be a good sell on most crosses in the not too distant future”.