11 Feb 2016
USD/CAD: a test of 1.42/1.44 appears likely – Scotiabank
Currency Strategist at Scotiabank Eric Theoret sees the possibility of re-visit to the 1.42/1.44 area in the near term.
Key Quotes
“USDCAD remains in corrective mode (higher) aŌer last week’s rebound from 1.3640”.
“Gains through 1.3930 in the past 24 hours should facilitate a fairly sizeable retracement of the 1.47/1.36 drop seen through late January”.
“We are aiming for a push higher to the 1.42/1.44 range in the next few weeks before upside pressure moderates”.
Key Quotes
“USDCAD remains in corrective mode (higher) aŌer last week’s rebound from 1.3640”.
“Gains through 1.3930 in the past 24 hours should facilitate a fairly sizeable retracement of the 1.47/1.36 drop seen through late January”.
“We are aiming for a push higher to the 1.42/1.44 range in the next few weeks before upside pressure moderates”.