In opinion of Richard Franulovich, Strategist at Westpac, CAD could see its gains limited in the next weeks.
“USD/CAD seems set to test the key 1.2830 support level in coming days as Fed Chair Yellen’s dovish leaning speech continues to reverberate”.
“But, the case for meaningful broad CAD outperformance is weak - crude oil seems to have found a ceiling around $40/bbl while PM Trudeau’s pro growth budget is now priced-in and out of the way”.
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