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Model continues to lean aggressively against CAD - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - Westpac's model, macro and technical signals continue to lean aggressively against CAD.

    Key Quotes

    "We remain long USD/CAD from 1.3484, the position opened back on 8 Dec 2015 and our stop trailed up to 1.3995."

    "Recessionary growth conditions and near 50-50 odds of a BoC cut at their 20 Jan meeting leave risks skewed toward the topside for USD/CAD."

    "That said, talk of 1.50 and even 1.60 in 2016 suggest that this burst of USD/CAD strength is very well owned and nearing its denouement."
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