USD/CAD to rise above 1.35 amid a stronger USD – Danske Bank – by MSalordFX USDCAD Banks Currencies
and the rebound in oil supporting the Loonie, explained analysts at Danske Bank. They forecast USD/CAD at 1.35 in a one-month period and at 1.37 in six months.“We pencil in a higher cross driven both by a rebound in the broad dollar but also on the notion of relative monetary policy. Bank of Canada has turned to an “on-hold”-stance while we expect the Fed to deliver an additional 25bp hike. Also markets price a more aggressive cutting cycle from the Fed in H2 which we think is overdone.
. While the Canadian housing market remains a threat we still think the growth back-drop and the energy-reliance make for a much better cocktail than found in most other asset markets.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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