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USD/CAD patience before fresh highs – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In the opinion of Richard Franulovich, Strategist at Westpac, the pair is expected to print fresh highs in the near term.

    Key Quotes

    USD/CAD has repeatedly failed to muster any follow through momentum into 1.34+ but suspect it’s just a matter of time before it breaks up and clocks fresh 2015 highs”.

    “Domestic negatives should prove key, the shock 0.5% fall in Sep GDP a read typically reserved for heavily stressed episodes”.

    “The terms of trade hit to incomes and investment continues to play out more deeply than many including the BoC are expecting”.

    “Softer US manufacturing accentuates the story. The BoC continues to push a cautiously hopeful line but another month or two of soft data could well see a clear dovish bias emerge early next year”.
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