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19 Mar 2015
USD/CAD still targets 1.30 by mid-year – Westpac
FXStreet (Edinburgh) - The pair could reach the key 1.30 handle by the mid of the current year, according to Strategist at Westpac Richard Franulovich.
Key Quotes
“USD/CAD may well trade down to key support around 1.2350 but suspect it will be a grudging move and CAD will lag much of the G10, sluggish energy prices the key factor likely to hamper CAD prospects”.
“1.30 still the target mid-year as the implosion in Canada’s energy patch increasingly bleeds into the broader economy and likely triggers a dovish tilt by the BoC at upcoming meetings”.
Key Quotes
“USD/CAD may well trade down to key support around 1.2350 but suspect it will be a grudging move and CAD will lag much of the G10, sluggish energy prices the key factor likely to hamper CAD prospects”.
“1.30 still the target mid-year as the implosion in Canada’s energy patch increasingly bleeds into the broader economy and likely triggers a dovish tilt by the BoC at upcoming meetings”.