USD/CAD: Target revised from 1.3450 to 1.3100 – Credit Suisse

FXStreet Insights Team FXStreet

The Canadian Dollar outperformed procyclical G10 FX peers in the second quarter, supported by exposure to strong US demand and a hawkish Bank of Canada. Economists at Credit Suisse have upgraded their CAD outlook.

The trend can extend at the current pace

Firm prospects for US activity suggest the trend can extend at the current pace.

We revise our USD/CAD target from 1.3450 to 1.3100 and lower the Q3 target range to 1.2950-1.3520.

See: GBP and CAD set to struggle in the medium term – Wells Fargo

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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