USD/CAD to top 1.40 again in the coming weeks – TDS

FXStreet Insights Team FXStreet

In the opinion of economists at TD Securities, dips into and below 1.37 in USD/CAD should be faded and a return to a 1.40 handle is likely.

There is zero reasons to like the loonie

“We see strong markers of support and dips in USD/CAD should be shallow. Dips into 1.36/37 should be strongly faded.”

“We look for the pair to top 1.40 again in the coming weeks.”

“To get CAD to strengthen will need to see a relaxation of positive USD catalysts primarily through a Fed pivot and a series of moderation in month-on-month US core CPI. Neither is happening near-term.”

Author

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.