USD/CAD aims to 1.50 during 2016 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The door seems to be open for the Canadian dollar to slip further vs. its American neighbour, with the 1.50 level on the cards in the next months, suggested analysts at Westpac.

    Key Quotes

    “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”.

    “Momentum and trend signals across time frames suggest USD/CAD has further to run. Any pullbacks should be limited to 1.40”.
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