13 Jan 2016
Model continues to lean aggressively against CAD - Westpac
FXStreet (Bali) - Westpac's model, macro and technical signals continue to lean aggressively against CAD.
Key Quotes
"We remain long USD/CAD from 1.3484, the position opened back on 8 Dec 2015 and our stop trailed up to 1.3995."
"Recessionary growth conditions and near 50-50 odds of a BoC cut at their 20 Jan meeting leave risks skewed toward the topside for USD/CAD."
"That said, talk of 1.50 and even 1.60 in 2016 suggest that this burst of USD/CAD strength is very well owned and nearing its denouement."
Key Quotes
"We remain long USD/CAD from 1.3484, the position opened back on 8 Dec 2015 and our stop trailed up to 1.3995."
"Recessionary growth conditions and near 50-50 odds of a BoC cut at their 20 Jan meeting leave risks skewed toward the topside for USD/CAD."
"That said, talk of 1.50 and even 1.60 in 2016 suggest that this burst of USD/CAD strength is very well owned and nearing its denouement."