USDCAD: Flying higher – TDS

FXStreet (Delhi) – Research Team at TD Securities, note that the USDCAD is leaking higher at time of writing, following the move lower in WTI during the overnight session.

Key Quotes

“There is very little going on in Canada this week with the exception of today’s speech from Bank of Canada Deputy Governor Tim Lane who speak on “Inflation Targeting—A Matter of Time” at 11:30ET. Given the proximity to last week’s interest rate decision, we do not foresee policy implications from this speech which is likely to argue strongly in favour of inflation targeting as a basis for monetary policy.”

“USDCAD may take its cue from the US durable orders which we expect on balance will be softer in the core figures. With the data expected to lean on the soft side, there could be more follow through on the push above 1.32 (fair value continues to creep higher and now stands at 1.3042). There is not much in the way of resistance until 1.33 (our year-end target) so we like remaining long through this week’s central bank bonanza.”

Research Team at TD Securities, note that the USDCAD is leaking higher at time of writing, following the move lower in WTI during the overnight session.

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