USD/CAD Targets 1.34/1.35 – Westpac
Strategists at Westpac have reiterated the pair could test the 1.34/1.35 band.
Key Quotes
“USD/CAD
looks exceedingly cheap via-a-vis energy prices, the latter close to
retracing about 1/2 its mid-Feb to mid-March gains while USD/CAD has
barely bounced”.
“Upside USD/CAD
targets should be modest though - 1.34/1.35 - hard landing China risks
should remain dormant a while longer as policymakers there adopt a
pro-growth stance while the Fed could be sidelined past June given Chair
Yellen's dovish leaning and what is shaping up to be a sub-1% Q1 growth
pace”.
(Market News Provided by FXstreet)
