20 Mar 2015
Credit Agricole: Buy USD/CAD dips, target 1.30 – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole remains bullish on USD/CAD, targeting 1.30 levels.
Key Quotes
“Looking ahead, investors’ focus turns to today’s release of inflation and retail sales data. Still muted domestic conditions should maintain the risk of slowing price developments to the benefit of rising central bank easing expectations intact. Weaker retail sales should confirm such prospects.”
“Elsewhere, muted growth expectations related to Asia should keep the risk of further slowing commodity price developments intact. The CAD has remained strongly correlated to commodities, especially due to their impact on domestic price developments.”
“As a result of the above outlined conditions we are still of the view that the CAD should be sold on rallies, in particular against the USD.”
“We remain long the cross, targeting a move above 1.30 over the coming few weeks.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Looking ahead, investors’ focus turns to today’s release of inflation and retail sales data. Still muted domestic conditions should maintain the risk of slowing price developments to the benefit of rising central bank easing expectations intact. Weaker retail sales should confirm such prospects.”
“Elsewhere, muted growth expectations related to Asia should keep the risk of further slowing commodity price developments intact. The CAD has remained strongly correlated to commodities, especially due to their impact on domestic price developments.”
“As a result of the above outlined conditions we are still of the view that the CAD should be sold on rallies, in particular against the USD.”
“We remain long the cross, targeting a move above 1.30 over the coming few weeks.”
This content has been provided under specific arrangement with eFXnews.