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USD/CAD neutral in the short-term – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In opinion of strategists at Westpac, USD/CAD points to further consolidation at current levels.

    Key Quotes

    “The run of softer Canadian data should continue through into next week's Q4 GDP outcome, however the stronger than expected CPI and what feels like a more stable near term outlook for energy markets will leave the Bank of Canada neutral”.

    “The risks of a short term push below 1.3650 appear to be rising, but we would view such a move as an opportunity to buy into weakness. Neutral at current levels”.

    USD/CAD seems to have found a base around 1.3640/50, according to short term charts. Short and medium term momentum also suggesting sideways trade”.
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