USD/CAD downside limited? – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to strategists at Westpac, USD/CAD’s downside could have less room to extend.

    Key Quotes

    “This could be it for USD/CAD's downleg since mid-Jan, neither CA-US 2yr bond spreads nor oil prices offering much confidence for sustained trade in USD/CAD sub-1.35”.

    “In fact 2yr bond spreads and oil prices both more fairly value USD/CAD nearer 1.38-1.40, substantially higher than current levels”.
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