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Still room for further decline in USD/CAD – Westpac

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Richard Franulovich, Strategist at Westpac, sees there is still further downside in the pipeline for the pair.

    Key Quotes

    “USD/CAD’s fall has further to run”.

    “The Fed, the ECB and the BoJ have signalled an implicit preparedness to underwrite risk assets”.

    “Meanwhile, China is unlikely to be a source of market shocks in coming weeks either thanks to the Lunar New Year and with China hosting the G20 26/27 Feb”.

    USD/CAD could easily slip to 1.35/1.36 and it still wouldn’t upset the longer term uptrend. 1.50 still the longer term target for 2016”.
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