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21 Jan 2016
USD/CAD: 1.50 appears on the horizon – Westpac
FXStreet (Edinburgh) - In opinion of Strategist at Westpac Richard Franulovich, dips in the pair could represent buying opportunities for a potential test of 1.50.
Key Quotes
“The economy looks like it has limped into year’s end in a very forlorn state”.
“Upcoming GDP, retail sales and jobs data should spotlight ongoing recessionary conditions”.
“USD/CAD looks very overdone to the topside and may be populated with a lot of “tourists” but dips are likely to be shallow and should be bought for a run at 1.50 into Q2 2016”.
“Even the steady hand from the BoC saw only a small pullback in the pair relative to the run up over the month”.
Key Quotes
“The economy looks like it has limped into year’s end in a very forlorn state”.
“Upcoming GDP, retail sales and jobs data should spotlight ongoing recessionary conditions”.
“USD/CAD looks very overdone to the topside and may be populated with a lot of “tourists” but dips are likely to be shallow and should be bought for a run at 1.50 into Q2 2016”.
“Even the steady hand from the BoC saw only a small pullback in the pair relative to the run up over the month”.