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28 May 2015
USD/CAD door open for a test of 1.28 – Westpac
FXStreet (Edinburgh) - The Canadian dollar could weaken further to the 1.2800 area vs. the greenback, suggested by Strategist at Westpac Richard Franulovich.
Key Quotes
“USD/CAD looks set to retest its Q1 1.28+ highs in coming sessions”.
“The BoC’s observation the impact of recent CAD gains “will need to be assessed” should act as a hard floor on USD/CAD”.
“Q1 GDP before the week is out carries high risks of a negative print (consensus at +0.2%)”.
Key Quotes
“USD/CAD looks set to retest its Q1 1.28+ highs in coming sessions”.
“The BoC’s observation the impact of recent CAD gains “will need to be assessed” should act as a hard floor on USD/CAD”.
“Q1 GDP before the week is out carries high risks of a negative print (consensus at +0.2%)”.