8 Jan 2016
USD/CAD outlook remains bullish – Scotiabank
FXStreet (Edinburgh) - In view of Eric Theoret, Currency Strategist at Scotiabank, the perspective for the pair remains bullish in the near term.
Key Quotes
“Focus remains centered on oil prices (middle chart), with added risk from the dual U.S.-Canada employment releases”.
“In terms of relative policy, BoC expectations have stabilized since Wednesday and are currently pricing a roughly 60% chance of a 25bpt cut over the next 12 months”.
“Signals are overwhelmingly bullish despite Thursday’s NA session pullback. There are no significant USDCAD resistance levels ahead of 1.45, with support expected around 1.4000”.
Key Quotes
“Focus remains centered on oil prices (middle chart), with added risk from the dual U.S.-Canada employment releases”.
“In terms of relative policy, BoC expectations have stabilized since Wednesday and are currently pricing a roughly 60% chance of a 25bpt cut over the next 12 months”.
“Signals are overwhelmingly bullish despite Thursday’s NA session pullback. There are no significant USDCAD resistance levels ahead of 1.45, with support expected around 1.4000”.