5 Jan 2016
USD/CAD: 1.43 appears on the cards – TDS
FXStreet (Edinburgh) - The outlook for the pair remains tilted to the bullish side, according to strategists at TD Securities.
Key Quotes
“The latest IMM positioning suggests that the leveraged community has increased net CAD short positioning, but this still remains far from the extremes observed in early 2014 and throughout much of 2015”.
“Our Q1 and Q2 forecast has fundspeaking out at 1.40 and 1.37 respectively before making a gradual grind lower to 1.33. We shade upside risks in the first half of the year and we would set an initial target of 1.43 in spot”.
Key Quotes
“The latest IMM positioning suggests that the leveraged community has increased net CAD short positioning, but this still remains far from the extremes observed in early 2014 and throughout much of 2015”.
“Our Q1 and Q2 forecast has fundspeaking out at 1.40 and 1.37 respectively before making a gradual grind lower to 1.33. We shade upside risks in the first half of the year and we would set an initial target of 1.43 in spot”.