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USD/CAD seen lower in the medium-term – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Jens Pedersen, Senior Analyst at Danske Bank, expects the pair to grind lower in a 6-month horizon.

    Key Quotes

    “The oil price has stabilised partly because of the repricing of the path of Federal Reserve rate hikes this year and next year”.

    “Both factors have weighed on USD/CAD over the past month”.

    “We see some upside risk to USD/CAD in the short-run as we expect oil prices to stay low and see some upside for USD and US rates”.

    “On 6M-12M, a recovery in oil prices and a stronger external economic situation would send USD/CAD lower”.
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