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29 Jul 2014
USD/CAD coming with a bullish bias short term - TDS
FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained that they remain positive on the USD outlook but are cautious of Canada’s prospects.
Key Quotes:
“Firmer growth, steady employment and a further step towards the winding up of QE should be evident this week”.
“We remain cautious on prospects for Canada, given sluggish job growth trends here and the absence of any clear rotation towards more sustainable growth drivers”.
“We continue to feel the broader fundamental trends are geared towards steady appreciation in USD/CAD through the balance of the year."
"In the short-term, we think technical patterns also favour more USD/CAD gains—though perhaps just not today. The rebound from the low 1.06 area earlier in July signaled a halt and reversal in the bear trend that had pulled USD/CAD back from 1.12+ levels in Q1."
Key Quotes:
“Firmer growth, steady employment and a further step towards the winding up of QE should be evident this week”.
“We remain cautious on prospects for Canada, given sluggish job growth trends here and the absence of any clear rotation towards more sustainable growth drivers”.
“We continue to feel the broader fundamental trends are geared towards steady appreciation in USD/CAD through the balance of the year."
"In the short-term, we think technical patterns also favour more USD/CAD gains—though perhaps just not today. The rebound from the low 1.06 area earlier in July signaled a halt and reversal in the bear trend that had pulled USD/CAD back from 1.12+ levels in Q1."