12 Jul 2013
Flash: USD/CAD firmer bias to persist going forward - HSBC
FXstreet.com (Barcelona) - The HSBC FX Research Team expects the firmer bias to persist going forward, saying that "on balance, we expect the CAD to remain on the defensive."
Even if the USD/CAD appears to have priced in a great deal of the Fed tapering, with HSBC noting "some of the better USD backdrop and weaker CAD conditions, are already reflected in the currency pair’s gains above 1.0500", the Bank expects further gains in the coming months. HSBC is keen to use "corrective declines which do develop as buying opportunities" the Bank said.
Even if the USD/CAD appears to have priced in a great deal of the Fed tapering, with HSBC noting "some of the better USD backdrop and weaker CAD conditions, are already reflected in the currency pair’s gains above 1.0500", the Bank expects further gains in the coming months. HSBC is keen to use "corrective declines which do develop as buying opportunities" the Bank said.