#USDCAD @ 1.34171 : Higher levels in the next months, seen at 1.37 on a six-month view – Danske Bank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Economists at Danske Bank forecast the USD/CAD pair at 1.35 in three-months and at 1.37 in six-months.
“Bank of Canada has clearly expressed that they now believe to have reached the peak in policy rates amid signs of a slowing labour market and concerns as to the level of private debt in the economy. Our call is in line with these signals, which in turn means that relative rates look set to be a positive for the cross in the months ahead.”
“We still have a higher USD/CAD as our base case and although we expect energy prices to remain elevated we believe the broad USD effect is set to dominate – especially on a 3-6M horizon.”
“Forecast: 1.34 (1M), 1.35 (3M), 1.37 (6M), 1.38 (12M).”
[/s2If]
Join Our Telegram Group
