USD/CAD: buy the pullbacks to 1.35 – Westpac

Strategist at Westpac Imre Speizer has suggested that dips towards the 1.3500 area could represent buying opportunities.

Key Quotes

“USD/CAD has fallen to the 1.3700 area with the recent stability in oil prices and looks vulnerable to breaking lower during the weeks ahead”.

“However we would be buyers at 1.3500, if seen, ahead of the next BOC meeting on 9 March”.

“We expect to see softer data (business surveys flag more soggy jobs reports in coming months) and thus a more dovish tone from the BoC”.