USD/CAD buy the dips towards 1.36/1.37 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Drops in the pair towards the 1.36/1.37 band could be buying opportunities, according to Richard Franulovich, Strategist at Westpac.

    Key Quotes

    “USD/CAD has not kept with this latest leg down in WTI”.

    “M&A inflow may be the proximate cause of the decoupling”.

    “Current oil prices suggest USD/CAD more fairly valued nearer 1.45. BoC’s Lane and Poloz both downplaying rate cut prospects but we expect their tone will shift by their next meeting, March 9, amid ongoing market turmoil, likely further weakness in oil prices and probably more soft local data in coming weeks (business surveys flag more soggy jobs reports in coming months)”.

    USD/CAD a buy into 1.36/1.37”.
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