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Little room for a CAD recovery - BNPP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at BNP Paribas, notes that the oil prices rebounded on Monday as markets reacted to comments from Saudi Arabia that it was prepared to work with OPEC and other producers to stabilize global crude markets.

    Key Quotes

    “However, our commodity strategists have now revised their oil price outlook lower and expect WTI to average $48/bbl and $44/bbl in Q1 and Q2 respectively. This, combined with rising US front-end yields should prevent any meaningful CAD recovery and we continue to target USDCAD at 1.40 next year.”
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