FXStreet (Edinburgh) – The FX Strategy team at TD Securities reiterated its bullish outlook on the pair in the longer run.
Key Quotes
“We think the underlying trend in USDCAD remains higher and we remain longer-term USDCAD bulls”.
“But we also continue to feel that the near-term trend in the market risks being quite choppy through the summer period”.
“We have been encouraged by the rise in the USD from the low 1.21s since last Thursday’s low, however, and while an important low may be in for the market, we think there is as chance we retest 1.21/22 again in the next few weeks”.
“We would reassess near-term prospects on a clear move above 1.25 in the next week or two, however, as that would imply the risk of more immediate and sustained USDCAD strength into Q3”.
(Market News Provided by FXstreet)