Please select Into the mobile phone version | Continue to access the computer ver.

Discuz! Board

 Forgot Password
 Register now
Hot Search: Activity Personals discuz
View: 28|Reply: 0

USD/CAD keeps the bullishness intact near term – Scotiabank

[Copy Link]








Rank: 9Rank: 9Rank: 9

Posted at 2016-9-23 13:10:35 | All floors |Read mode
FX Strategist at Scotiabank Eric Theoret noted the pair’s outlook remains bullish in the short-term horizon.
Key Quotes
“In terms of drivers, we highlight the renewed widening in the 2Y U.S.-Canada yield spread, above 20bpts with a 5bpt jump from last Thursday. The drag from spreads may be offset by signs of strength in oil prices following Tuesday’s API inventory draw”.
“We look to a broadly USD positive reaction, presenting downside risk to CAD on the back of a widened yield spread and lower USD-denominated oil price”.
USDCAD is testing 9 day MA (1.3154) support around the lower end of its one week range, however signals remain broadly bullish across both trend and momentum indicators”.
“Recent congestion has centered around 1.32 and we maintain expectations for gains through the late July high at 1.3253 and 200 day MA at 1.3255 toward the 1.33 and 1.35—levels that roughly coincide with the major retracement levels of the January-May decline”.

  • 1 Week
  • 1 Month
  • 1 Quarter
   1 Week
  Avg Forecast 1.3136


  • 22% Bullish
  • 56% Bearish
  • 22% Sideways
Bias Bearish

  1 Month
  Avg Forecast 1.3228


  • 42% Bullish
  • 42% Bearish
  • 17% Sideways
Bias Bullish

  1 Quarter
  Avg Forecast 1.3254


  • 46% Bullish
  • 31% Bearish
  • 23% Sideways
Bias Bullish

Updated Sep 16, 14:00 GMT

Use props Report

You need to log in before you can reply Login | Register now

This forum Credits Rules

Archiver|Mobile ver.|Darkroom|Comsenz Inc.

GMT+8, 2020-2-19 02:23 , Processed in 0.078125 second(s), 21 queries .

Powered by Discuz! X3 English ver.

© 2001-2013 Comsenz Inc.

Quick Reply Back to top Back to list