19 Oct 2016
USD/CAD target to 1.33-35 area - Scotiabank
Analysts at Scotiabank explained that they anticipate a widening in the U.S.-Canada 2Y yield spread and a reversal of the narrowing from early October.
Key Quotes:
"We remain bearish CAD with a year-end forecast of 0.75 (USDCAD 1.33).
We look to limited downside beyond the 50 day MA at 1.3070 and would anticipate considerable support at 1.30. The broader, multi-month bullish trend remains intact, and we maintain a bias to medium-term gains toward the 1.33-1.35 area."