USD/CAD: headed to 1.3500? - Rabobank
|Analysts at Rabobank explained that since the US election on November 8 the CAD has rallied 1.8% vs. the USD mostly on the back of the improvement in oil prices though better than expected domestic jobs data and trade data have also brightened the outlook.
Key Quotes:
"The rally in the CAD compares with a 15.5% drop in the MXN in the same period. Although the CAD gains are less significant than some other oil related currencies such as the RUB, it has outperformed the NOK substantially in this period. Despite the encouragement afforded by recent Canadian economic data, in our view the CAD is vulnerable to Trump related political threats. We see current levels as an opportunity to buy USD/CAD with a view to the currency pair moving back towards the 1.35 level in the coming months."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.