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Extended upside potential in USD/CAD - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at TD Securities noted that 2015 was a bad year for the CAD.

    Key Quotes:

    "It was the worst performing G10 currency versus the USD, in line with some of its EM peers.

    We see additional risks of acute pressures on the CAD
    early this year driven by a corporate cash crunch, a non-trivial probability of further monetary easing, seasonal underperformance and subdued oil outlook.

    We see extended upside risks to our Q1 and Q2 forecast
    of 1.40 and 1.37. Tighten trailing stops to 1.3700/20 for an initial target of 1.43. We also see value in implementing a 1.43/1.45 3-month USD/CAD call spread."
    For more information, read our latest forex news.

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